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Daily: Brent and U.S. crude oil futures plunge to the lowest point on oil exports resumption in Libya
Crude oil futures on both sides of Atlantic fell on Monday to the weakest point in a month as Libya lifted a force majeure from two major oil ports following rebels’ agreement to end a blockade last week. Brent crude dropped 40 cents to close at $110.24 a barrel, the lowest settlement price since June 11. Brent had rocketed to a nine-month high of $115.71 in June amid the Iraqi attack, but has since slipped over 4 percent. U.S. oil declined by 53 cents to close at $103.53 a barrel, the weakest level since June 6. It posted the seventh consecutive daily decline, the longest in U.S. oil since December 2009.
read more... 08/07/2014
Bulgaria on the point of nuclear agreement to reduce dependence on Russia
Bulgaria, one of five EU states that rely entirely on Russia for nuclear fuel, is ready to take a step towards increasing its suppliers when Westinghouse Electric Company purchases a stake in a state-controlled company building new atomic units.
read more... 07/07/2014
Spain approves gas sector reform to reduce increasing tariff deficit
The first steps towards reducing an increasing tariff deficit have been taken by Spain on Friday in the gas sector, deficit formed by years of inequitable regulated costs and incomes that has led to higher energy bills for consumers.
read more... 07/07/2014
Daily: Europe power prices fell alongside a decrease in EUAs
Crude oil prices plunged on Friday with European Brent sinking below $111 a barrel on expectations of stronger exports from Libya and more U.S. crude soon finding its way to refiners, but losses were capped by optimistic economic data showing a higher demand outlook.
read more... 07/07/2014
Poland: gas company PGNiG will be listed on bourse
The Polish government will maintain listed on the stock market its leading gas distribution company PGNiG, in spite of proposals it should be nationalized and removed because of its strategic importance, as stated by Deputy Treasury Minister Wojciech Kowalczyk.
read more... 07/07/2014