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Daily: European spot electricity prices finish on a mixed note, German contract lifted by stronger consumption
Crude oil prices rebounded on Wednesday , supported by a sharp decrease of the dollar a day before, while the market was still trying to assess the chances of a deal between two of the largest oil producers to freeze oil production. U.S. WTI settled up 67 cents at $45.50 a barrel, a third consecutive session of gains, after U.S. inventory data showed the largest weekly stock draw in over three decades. Brent futures boosted 72 cents to end at $47.98 a barrel.
read more... 08/09/2016
Shell to trigger production in Gulf of Mexico
Dutch energy giant Shell commenced production in its ultra deepwater fields in the Gulf of Mexico, according to an official statement.
read more... 07/09/2016
Daily: Brent crude falls on receding hopes for imminent action to tackle a supply glut
Brent crude declined almost 1 percent on Tuesday, as hopes for a deal between two of the largest oil producers to freeze oil production vanished. On Monday, Russian and Saudi officials said they would set up a working group to monitor the oil market and come up with recommendations to promote stability in order to tackle global supply. The announcement gave a lift to oil prices. However, those gains faded by Monday afternoon as the news underwhelmed traders. On Tuesday, Brent futures for November delivery lost 37 cents, or 0.8 percent, to end at $47.26 a barrel. WTI crude did not settle on Monday due to the Labor Day holiday.
read more... 07/09/2016
BP is expanding its shale gas business in China
BP has announced on Thursday that it has signed a second contract for shale gas exploration, development and production with China National Petroleum Corp (CNPC). Earlier this year, the two companies signed their first shale gas production-sharing contract (PSC) on the adjoining Neijiang-Dazu block.
read more... 02/09/2016
Daily: British wholesale gas prices down on an oversupplied market
On Thursday, oil prices registered a decrease of more than 3 percent, their biggest decline in a week since January (almost 9 percent), as investors have put aside rumors about a possible production freeze from OPEC, and focused on an unexpected big increase of US crude inventories. Brent crude prices have settled down $1.44 at $45.45 per barrel, or 3.38 percent. U.S. crude's West Texas Intermediate (WTI) futures fell $1.54 or 3.45 percent at $43.16 a barrel.
read more... 02/09/2016