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Daily: Crude oil recovers from multi-month low on stock market growth in China
Crude oil prices rebounded from multi-month low on Tuesday, spurred by a stock market jump in China, but robust supply and a pessimistic demand outlook slashed the crude’s hike. Brent crude rose by 47 cents, or 1 percent, to settle at $49.99 a barrel. It hit a six-month low on Monday, coming within cents of its 2015 low of $49.19. WTI crude increased 57 cents, or 1.3 percent, to close at $45.74. It plummeted to a four-month bottom of $45.17 the previous session, about $3 from the year low.
read more... 05/08/2015
European wind energy capacity covers 8% of electricity needs
European wind power capacity grew to a total 129 GW in 2014, according to report recently released by the Joint Research Centre (JRC).
read more... 04/08/2015
North Sea oil production rebounds for the first time in 15 years
Oil and gas production from the British North Sea is likely to recover for the first time in 15 years, despite plummeting oil prices and a persistent supply glut.
read more... 04/08/2015
Egypt expected to purchase 7.79m tonnes of LNG this fiscal year
Egypt’s planning ministry unveiled it envisages importing 28.6 million tonnes of crude oil, liquefied natural gas (LNG) and other oil products worth a total of almost $16 billion in 2015-16.
read more... 04/08/2015
Daily: European power forward prices plunge to two-month lows due to low fuel prices
Crude oil prices declined 5 percent on Monday to hit their weakest level since January, dragging down global benchmark Brent below $50 a barrel as weak factory activity in China dipped a commodity-wide rout. Brent crude closed down $2.69, or 5.2 percent, to touch $49.52 a barrel. U.S. crude dropped $1.95, or 4.1 percent, to hit $45.17, just about $3 above its 2015 bottom.
read more... 04/08/2015