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Daily: Crude oil prices decline on speculations of Tehran nuclear deal
Brent crude futures declinde 5 percent on Monday on speculations of a sooner-than-expected nuclear deal for Tehran that could remove sanctions and increase its oil exports, intensifying concerns of robust supply back to the market. Boosting Libyan crude output and a stronger dollar also weighed on Brent. U.S. crude futures also dropped but only slightly, spurred by data suggesting a smaller-than-expected increase last week in the Cushing, Oklahoma delivery point for oil. Brent's front-month fell $3.04 to settle at $59.54. WTI crude decreased 17 cents to close at $49.59 a barrel.
read more... 03/03/2015
Asian spot LNG prices eject Europe as world’s leader
Asian spot liquefied natural gas (LNG) prices have re-established a premium over competing European benchmarks, reversing a month-long tendency, since Atlantic markets sucked up further supply generating deficits elsewhere.
read more... 03/03/2015
Areva to reduce wage bill by 15% since forecasts worsen
French nuclear conglomerate Areva intends to reduce 15 percent of its wage bill to save 300 million euros ($337 million) a year within three years among fading sales predictions for its reactors.
read more... 02/03/2015
Germany: Steag seen as possible purchaser of Vattenfall lignite assets
The manager of German energy sector trade union BCE declared it would be "not unreasonable" for German electricity company Steag GmbH to manifest interest in acquiring lignite assets Swedish utility Vattenfall has put up for sale in Germany, less than two weeks after Steag stated it was not in negotiations.
read more... 02/03/2015
Daily: British prompt gas prices ease as Ukraine political risk lessens
Crude oil increased considerably on Friday, with Brent and U.S futures registered their first monthly gains since June, spurred by growing demand forecasts and supply outages. Brent crude boosted $2.53 to close at $62.58 a barrel, with its February’s 18 percent gain the largest monthly percentage increase since May 2009. WTI crude increased $1.59 to settle at $49.76, posting a 3.1 percent February gain.
read more... 02/03/2015