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Daily: UK gas prices drop on warmer weather forecast
Crude oil futures registered a slight increase on Monday in thin trade, reversing earlier losses, as the market assimilated mixed economic and industry data from the United States and China, the greatest oil consumers in the world. Brent crude front-month edged up 28 cents to settle at $109.09 a barrel, after earlier dropping below $108 a barrel. The August contract expires on Tuesday. Meanwhile, U.S. crude oil traded 37 cents up to close at $106.32 a barrel after slipping below $105 earlier in the session, following the publication of the U.S. retail sales data.
read more... 16/07/2013
Spain announced 2.7 billion euro cuts in subsidies
Spain's government intends to cut subsidies for renewable-energy suppliers and increase electricity bills as part of widespread reforms to its energy policy. The government had announced a series of actions intended at reducing the country’s tariff deficit, which amount to more than 26 billion euro, and has been accumulated as a result of a discrepancy between generating costs and electricity prices for consumers for a long period.
read more... 16/07/2013
France keeps saying no to shale gas development
Even if France is viewed as one of the most promising countries in Europe in terms of shale gas reserves, in 2011 the French government imposed a moratorium on hydraulic fracturing for shale gas due to worries about its potential impact on the environment.
read more... 15/07/2013
EU to launch a probe on German renewable energy law
The European Commission is planning to initiate a formal investigation into Germany's law to promote the use of renewable energies, according to German news magazine Spiegel.
read more... 15/07/2013
Daily: Brent trades steady below $108 after retreating from three-month peak
Brent crude remained unchanged below $ 108 a barrel on Friday, after retreating from a three-month high in the previous session as the expectations of more supply from non-OPEC producers and concerns about China's demand growth cut gains. Meanwhile, Brent crude for August delivery dropped 8 cents to $107.65 a barrel by 04:58 GMT, after hitting a low of $107.28. U.S. crude traded at $104.84, down 7 cents, remaining on track for a third weekly increase. It registered a considerable decline in nearly three weeks on Thursday after touching a 16-month high at $107.45, following fears of a supply squeeze at the contract's delivery point in Cushing, Oklahoma, eased on a pipeline outage.
read more... 15/07/2013