Oil prices jumped on Tuesday, supported by strong demand from China. Nevertheless, many markets are well supplied and oil for prompt delivery is trading at heavy discounts to forward futures, consequently crude oil prices remain under pressure and trading volumes are quite low. Brent crude edged up by almost 0.9% to close at $48.84 a barrel, while WTI price rose by 0.83% to end at $46.40 a barrel.
read more... 19/07/2017
Oil prices edged higher in rough trading on Friday, boosted by a report from the IEA that demand growth is accelerating and that oil stocks had fallen. The IEA raised its demand estimate for the Q2, while it reduced its figure for non-OPEC supply. Consequently, the oil market showed a vast deficit last quarter. Both, Brent crude and WTI prices rose by 1% to close at $48.91 a barrel and $46.54 a barrel respectively.
read more... 17/07/2017
As reported by the International Energy Agency (IEA), global gas is predicted to rise 1.6% every year, for the next five years, with consumption rising to almost 4,000 billion cubic meters (bcm) by 2022.
read more... 14/07/2017
Oil prices rose on Thursday on evidence that world oil demand is picking up, notably in the United States and China, the world's two biggest oil consumers. Growing demand is helping to drain a global fuel glut but the rebalancing of the oil market is taking longer than anticipated. Brent crude jumped by 1.42% settling at $48.42 a barrel, while the WTI price increased by 1.3% to $46.08 a barrel.
read more... 14/07/2017
According to a long-term forecast by the National Grid, electric vehicles (EVs) could raise demand for electricity by 3.5GW by 2030, and by 18GW twenty years later, which equals to around six Hickley Point nuclear power stations.
read more... 13/07/2017