Crude oil recovered sharply on Thursday from three-month lows reached previously in the week, with prices increasing about 3% as Chinese collapsing stock market picked up and oil traders remained uncertain about talks for a nuclear deal that will permit Iran to export more crude. Brent crude rose by $1.56, or 2.7 percent, to settle at $58.61 a barrel. On Monday, Brent hit a three-month low of $55.10. WTI crude settled boosted $1.13, or 2.2 percent to close at $52.78. This week's low of $50.58 was the lowest since April.
read more... 10/07/2015
Athens had admitted for the first time its plans to build a €2bn gas pipeline with Moscow, the so called 'Turkish Stream' in Greece, move which is like to intensify U.S. worries, as it stepped up its involvement in Greece’s debt negotiations with international creditors.
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Azerbaijan allows Italian gas infrastructure conglomerate Snam to take a stake in the project to construct the Trans Adriatic Pipeline (TAP) that will convey gas from Azerbaijan to Europe, as stated by President Ilham Aliyev on Thursday.
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Britain's green energy providers and their clients will no longer be exempt from a climate change tax, as stated by finance minister George Osborne on Wednesday, knocking shares in power producer Drax to their lowest ever level.
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The European Parliament on July, 8 approved a proposal to begin reform of the world's biggest carbon market in 2019, a key part of strategies to curb the EU's global-warming emissions.
read more... 09/07/2015