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Daily (29.08.2017): Gasoline prices boosted by Hurricane Harvey, but crude oil prices lower
Oil prices fell on Monday as diminished oil supply was offset by the refinery shutdowns due to Hurricane Harvey. Traders expect refineries demanding less oil as they take weeks to come back on line. Brent crude, on the other hand, stayed stronger as the U.S. will demand product from Europe as well as due to some shut down of Libyan oil production over the weekend. Brent crude closed 1% down at $51.89, while WTI price lost 2.71% to end at $46.57 a barrel.
read more... 29/08/2017
Amec Foster Wheeler will provide solar energy for US military base
British company Amec Foster Wheeler will provide a 750kW solar energy and battery storage system to the US Air Force Wake Island base, in a contract worth $26.6 million. The deal will include the upkeep and upgrade of the facility’s electrical distribution system, which consists of around eight miles of medium-voltage electrical equipment.
read more... 29/08/2017
Adani will start constructions of its Carmichael coal mine in October
Indian mining company Adani has disclosed that works on the Carmichael coal mine in Queensland will start in October, and the first coal from the mine will be received in March 2020. The overall cost of the project will reach $16.5 billion.
read more... 29/08/2017
Brexit could increase electricity bills by departing from energy efficiency
The withdrawal of energy efficiency standards for household appliances and lightbulbs, which are currently considered to be the most efficient according to EU standards, could cause a £90-raise in the electricity bill per year.
read more... 28/08/2017
Daily (28.08.2017): Oil prices rose on Friday as the US are heavily hit by Hurricane Harvey
Oil prices rose on Friday, as the U.S. dollar weakened and the U.S. Gulf Coast is being hit by Hurricane Harvey, likely to become the biggest storm to affect United States mainland in more than a decade. Refineries, terminals, onshore and offshore production operations and other infrastructure have been shut down or begun storm preparations. Brent crude edged up by 0.71% to $52.41 a barrel, while WTI price surged by almost 1% to end at $47.87 a barrel.
read more... 28/08/2017