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The nuclear energy problem of Japan
Since the Fukushima catastrophe in April 2011, nearly all of the country’s nuclear plants closed, leaving a significant capacity gap which has had to be filled with more coal, oil and gas which provoked substantial costs in both economic and environmental terms, as the price of power increased due to a sharp turn toward the use of fossil fuels.
read more... 16/08/2013
Daily: UK gas prices increase on field outages
Crude oil prices on both sides of the Atlantic increased on Thursday on increasing violence in Egypt which could hit the Suez Canal or spread across the Middle East. Front-month September Brent, which expired on Thursday, settled 91 cents higher at $111.11 a barrel, after earlier increasing over a dollar to $111.53, its highest level since April 2. The more actively traded October contract rose 78 cents to $109.60. Meanwhile, U.S. oil rose 48 cents to settle at $107.33.
read more... 16/08/2013
E.ON and RWE European power plant closures
E.ON and RWE have been stung by high prices of fuels such as gas, plummeting wholesale prices due to Europe's economic slowdown and policies supporting the expansion of renewable power, which erodes the need for conventional generation.
read more... 16/08/2013
Iran’s new President in serious negotiations with the West to end nuclear dispute
After his victory at elections in June, Iran’s new President Hassan Rohani said that Iran was ready for serious talks over its nuclear program, in a move which aims to eliminate all sanctions in place against Iran. It added that he would not give up with Iran's rights, but he wants to alleviate Western worries.
read more... 15/08/2013
Daily: Brent hits 4-month high on escalating Middle East tensions
Brent crude prices boosted to a 4-month peak over $110 a barrel on Wednesday on concerns about supply disruptions in Libya and intensifying violence in Egypt. Brent for front-month September delivery, which expires on Thursday, traded 38 cents up to settle at $110.20 a barrel after hitting a new 4-month high of $110.30. The more actively traded October contract rose 34 cents to settle at $108.82. Meanwhile, September U.S. oil futures inched up 2 cents to settle at $106.85 after a day of choppy trading, reversing earlier losses of more than $1.
read more... 15/08/2013