Latest news
National Grid awarded Centrica agreements for winter electricity backup
National Grid awarded British utility Centrica contracts for the supply of further electricity capacity from two of its gas-fired power plants in the winter of 2015/16.
read more... 16/12/2014
Daily: Crude oil prices to a fresh five-year low on OPEC determination not to curb output
Brent crude oil reached a new five-year low close to $60 a barrel on Monday on OPEC’s decision not to curb output despite fears of a global oversupply. Brent for January delivery plunged to a low of $60.28 a barrel in Asian trade, down $1.57 and its weakest level since July 2009. The futures contract then rocketed to trade around $62.20 by 14:50 GMT, up 35 cents from Friday's settlement. WTI for January delivery settled at $57.50 a barrel, down 31 cents, after hitting a low of $56.25 earlier in the day - its lowest level since May 2009.
read more... 16/12/2014
Daily: Crude oil prices tumbled 3% to five-year lows on IEA pessimistic forecasts
Crude oil markets declined 3 percent or more to tumble to a fresh five-year low on Friday on IEA’s forecast for even weaker oil prices, lower demand and robust supply in 2015. Benchmark Brent oil ended at below $62 a barrel and U.S. crude tumbled to under $58 to prolong Thursday’s decline below $60. Brent decreased $1.83, or nearly 3 percent, at $61.85 per barrel. It slumped to $61.35 during the session, the weakest level since July 2009. WTI crude slipped $2.14, or 3.6 percent, to close at $57.81. It dropped earlier to $57.34, its lowest since May 2009.
read more... 15/12/2014
***Breaking news***: U.S. oil prices crash below $60 for the first time since July 2009
U.S. crude prices plunged below $60 a barrel for the first time in five years, breaking through a key psychological and prompting new selling. Prices have plummeted on OPEC producers’ cartel statements that the supply glut is likely to continue in 2015 and the demand would be the weakest in a decade, dragging prices down even further. The global oversupply is driven partly by rocketing production from the U.S. shale basins. Nymex January West Texas Intermediate, the US oil benchmark, sank 99 cents or 1.6% to settle at $59.95 a barrel on Thursday. Meanwhile, front-month Brent, the international crude benchmark, declined by 56 cents to close at $63.68 a barrel.
read more... 12/12/2014
Daily: European thermal coal prices recover from their downward trend
Brent crude oil fell below $66 a barrel on Wednesday, declining just above a five-year low, on signs of supply glut and flat demand as global economic growth is stagnating. Brent contract reached $65.29 on Tuesday, its lowest level since September 2009. U.S. crude futures dropped $1 to settle at $62.82 a barrel, dragged down by an increase in inventories in the U.S.
read more... 11/12/2014