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Daily: January Brent and U.S. crude futures end higher at contract expiration
January Brent and U.S. crude futures which are expiring soon settled up on Friday on expectations that demand in China will boost after data showed that manufacturing sector is reinforcing this month and amid a weaker U.S. dollar which also backed oil prices. Meanwhile, Brent January crude boosted $1.24, or 1.15 percent, to settle at $109.15 a barrel after trading from $108.20 to $109.58. U.S. January crude futures gained 84 cents, or 0.98 percent, to settle at $86.73 a barrel, having traded from $86.05 to $86.92.
read more... 17/12/2012
OPEC ready to cut oil production in 2013 amid oil prices drop
The Organization of Petroleum Exporting Countries (OPEC) announced this week that it will keep its oil output limit at 30 million barrels per day, with production running about 1 million barrels a day above the level of supply that OPEC expects the world will need from it next year. This decision was taken in reaction to higher output from the major consumer United States and a decrease of energy demand which will cause a fall of prices as predicted by some analysts.
read more... 14/12/2012
Daily: European power prices at new lows amid milder weather outlook
Brent and U.S. crude futures dropped on Thursday as U.S. lawmakers diverged from steps to avert automatic spending cuts and tax increases that take effect on Jan. 1 and threaten to curb economic growth and fuel demand. Meanwhile, Brent January crude eased by $1.59, or 1.45 percent, to settle at $107.91 a barrel, having traded from $107.80 to $109.52. U.S. January crude slipped 88 cents, or 1.01 percent, to settle at $85.89 a barrel, having traded from $85.81 to $86.97.
read more... 14/12/2012
China boosts its solar subsidies in 2012, soaring Chinese solar stocks
China has boosted subsidies for its solar industry by 7 billion yuan ($1.1 billion) in 2012 to a total of 13 billion yuan, the government said on Wednesday, move aimed to help manufacturers crippled by excess capacity and fading foreign demand.
read more... 13/12/2012
GDF Suez: Income is expected to fall next year as demand slows due to economic crisis
GDF Suez, Europe’s largest utility by market value, has announced this week that income for next year will register a decrease as the economic crisis in the region slows demand. According to GDF Suez, European demand for natural gas is down 14% since 2010 while power by 25 %, so it plans to cut its share of profit from Europe and is looking to double LNG sales to emerging markets.
read more... 11/12/2012