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Daily (08.08.2017): UK prompt wholesale gas prices jumped by 4% on Monday due to Hornsea’s outage
Oil prices were slightly bearish on Monday, retreating from 9-week highs. According to traders, the market is looking for a statement, confirming that the OPEC will meet its agreed target, the possibility for price movement seems limited. Also, U.S. weekly oil production hit the highest value since August 2015 pushing down the prices. Brent crude dropped by 0.1% to close at $52.37 a barrel, while WTI price fell by almost 0.38% to close at $49.39 a barrel.
read more... 08/08/2017
Daily (04.08.2017): UK wholesale gas prices rose by 1.5% on Thursday on extended Kollsnes’ outage
Oil prices fell on Thursday, pushed down by high OPEC supplies. Yet traders consider, that the oil industry has adapted to “low prices era” and can produce and operate at price levels that previously would have been uneconomic. Brent crude tumbled by almost 0.7% to close at $52.01 a barrel, while WTI price decreased by 1.13% to close at $49.03 a barrel.
read more... 04/08/2017
Centrica plans to increase Morecambe Bay gas output by investing 60 mln pounds
British utility Centrica announced on Wednesday about the intention to spend 60 million pounds ($77 million) to unlock more natural gas reserves in Morecambe Bay gas fields, under the Irish Sea, aiming to reduce a potential shortage next winter, since a continuing outage at Centrica’s older Rough gas storage has increased concerns about the security of supply.
read more... 04/05/2017
Daily (06.04.2017): Europe spot power prices diverge on heavy wind, cold weather
Crude oil prices climbed slightly on Wednesday, but retreated from one-month highs, as a support from an outage at the largest UK North Sea oil field was eclipsed by an unexpected increase in U.S. crude stockpiles to a record level, capping the gains.
read more... 06/04/2017
Daily (05.04.2017): Crude oil prices hit the highest levels since March 7
Crude oil prices rallied on Tuesday to hit near one-month high, buoyed by an unscheduled output outage in the North Sea and expectations of a decline in U.S. crude stockpiles.
read more... 05/04/2017