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Daily: Crude oil plunges 8% on Greek vote to reject austerity measures
Crude oil prices plunged by about 8 percent on Monday, registering the largest selloff since five months, as Greece’s vote to reject tough economic bailout conditions and China's stock market woes trigged a deepening spiral of losses. The slump was also encouraged by a potential nuclear deal in Iran, which could result in supply glut on oil market. U.S. crude closed at $52.53 a barrel, down $4.40 or 7.7 percent, from its settlement on Thursday and below the 100-day moving average, the biggest percentage drop in a day since early February. Brent crude crashed $3.78, or 6.3 percent, to settle at $56.54, also below the 100-day average.
read more... 07/07/2015
RWE plans reorganization of units to cut costs
German utility RWE is thinking about a restructuring that could see units such as RWE Generation and RWE Innogy being fused or swallowed up by the parent group since it deals with an industry-wide crisis, as stated in a German newspaper on Saturday.
read more... 06/07/2015
Daily: Crude oil plunges to three-week lows on intensifying Greek crisis, Iran nuclear deal
Crude oil futures touched 3-week lows on Monday as Greece closed its banks and imposed capital controls, triggering widespread risk aversion, while Iran was expected to extend nuclear negotiations with the West to export more of its oil into an already flooded market. Brent crude futures declined by $1.25, or almost 2 percent, to settle at $62.01 a barrel, its lowest level since June 5. U.S. crude eased $1.30, or 2.2 percent, to close at $58.33 a barrel, its weakest settlement since June 8.
read more... 30/06/2015
Daily: Crude oil closes flat, with Brent slightly up after two-day decline
Crude futures settled little changed on Friday after signs that Greece might reach a deal by the weekend to avert a Greek debt default, while Iran struggled to ink a nuclear agreement to halt sanctions on its oil exports. Brent posted a modest rise after declining for two consecutive days, while WTI crude prolonged its downward trend after indications that the country's oil rig count may start increasing soon. Brent crude boosted 6 cents, or 0.1 percent, to settle at $63.26 a barrel. U.S. crude eased 7 cents, or 0.1 percent, to close at $59.63.
read more... 29/06/2015
BP inks LNG supply deal with Egypt amid its severe gas shortage
British oil giant BP has inked a deal to supply 16 cargoes of liquefied natural gas (LNG) through 2015 and 2016 to state-owned Egyptian Gas (Egas). The final quantity is less than 21 cargoes as previously envisaged.
read more... 24/06/2015