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Daily: Crude oil prices end under $37 for the first time since 2009
Crude oil prices settled under $37 a barrel on Thursday for the first time since 2009 following the release of a report from OPEC’s indicating a hike in crude oil production in November to the highest monthly level in three years. On the New York Mercantile Exchange, West Texas Intermediate crude for January delivery slipped 40 cents, or 1.1%, to end at $36.76 a barrel. Brent crude for January delivery on London’s ICE Futures exchange eased 38 cents, or 1%, to hit $39.73 a barrel.
read more... 11/12/2015
Total, Goldman Sachs: Oil and gas prices likely to fall further in 2016
The oil prices are not likely to recover in 2016, according to declarations made by France’s Total and Goldman Sachs at a time when Brent crude plunged below $42/barrel following OPEC 168th meeting which did not yielded any production cuts.
read more... 09/12/2015
Daily: Crude oil prices decline as OPEC decided to maintain production at record highs
Crude oil prices declined on Friday following the news that the OPEC was planning to keep its production near record highs despite a collapse in oil prices, intensifying worries about an oversupplied market. Brent crude oil futures shed 84 cents, or nearly 2 percent, to close at $43, after a rebound in early trade. The benchmark contract was within cents of Augusts’ 6-1/2-year trough. U.S. crude futures slipped $1.11, or nearly 2 percent, to settle at $39.97.
read more... 07/12/2015
Daily: Oil futures soar ahead of OPEC meeting
Crude oil prices hiked on Thursday, on expectations of a possible reduction in production from the OPEC and the U.S dollar weakness helped crude oil to rebound by nearly 3% of a decline that dragged the WTI below $40 a barrel. On the New York Mercantile Exchange, WTI crude for delivery on January rose $1.14, or 2.9%, to close at $41.08 a barrel. Brent crude for January delivery increased by $1.35, or 3.2%, to close at $43.84 a barrel on London’s ICE Futures exchange.
read more... 04/12/2015
Swiss grid will exploit Alpine hydro plants to counterbalance nuclear shutdown
The Swiss power grid operator has informed utilities that they may have to increase energy production from high-mountain hydro plants this winter since nuclear reactors stay closed and there is not sufficient transformer capacity to take on enough green power from Germany.
read more... 03/12/2015