Daily: Crude oil prices to a fresh five-year low on OPEC determination not to curb output

16/12/2014 00:24 Energy Market


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.

Meanwhile, prompt natural gas prices in Britain declined on Monday as forecasts for mild weather curbed a fall in gas flows. Prices for next-day delivery eased 0.45 pence to trade at 54.10 pence per therm at 09:56 GMT. European spot power prices rebounded on Monday on expectations for a fall in German wind and solar power production and boosting electricity demand in Germany and France. German baseload for Tuesday delivery climbed 6.4 euros from the price for Monday's contract at 46.4 euros ($58) per megawatt hour (MWh), while the equivalent French contract rose 3.65 euros to trade at 51.40 euros.

Daily (30.07.2020): European CO2 prices rebounded by nearly 2% on Wednesday tracking a stronger auction in Poland.

30/07/2020 13:19:00

Crude oil prices inched higher on Wednesday, following an unexpected drop in US crude inventories. Consequently, Brent crude rose by 1.2% to $43.75 a barrel, while WTI futures increased by 0.6% to $41.27 a barrel.


Eneco, Shell win Dutch offshore wind tender with 759-MW project

30/07/2020 10:56:00

A joint venture between Dutch utility Eneco and oil and gas major Royal Dutch Shell Plc has won the tender for the third zero-subsidy offshore wind farm in the Dutch North Sea, to be built in the Hollandse Kust Noord zone.


Assembly of world’s largest nuclear fusion reactor begins in France

30/07/2020 10:49:00

A total of 35 nations are currently collaborating to build tokamak, a magnetic fusion device, which aims to demonstrate the real potential of fusion as a large scale carbon-free source of energy