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***Breaking news***: U.S. oil prices crash below $60 for the first time since July 2009
U.S. crude prices plunged below $60 a barrel for the first time in five years, breaking through a key psychological and prompting new selling. Prices have plummeted on OPEC producers’ cartel statements that the supply glut is likely to continue in 2015 and the demand would be the weakest in a decade, dragging prices down even further. The global oversupply is driven partly by rocketing production from the U.S. shale basins. Nymex January West Texas Intermediate, the US oil benchmark, sank 99 cents or 1.6% to settle at $59.95 a barrel on Thursday. Meanwhile, front-month Brent, the international crude benchmark, declined by 56 cents to close at $63.68 a barrel.
read more... 12/12/2014
Daily: European thermal coal prices recover from their downward trend
Brent crude oil fell below $66 a barrel on Wednesday, declining just above a five-year low, on signs of supply glut and flat demand as global economic growth is stagnating. Brent contract reached $65.29 on Tuesday, its lowest level since September 2009. U.S. crude futures dropped $1 to settle at $62.82 a barrel, dragged down by an increase in inventories in the U.S.
read more... 11/12/2014
Germany’s CO2 targets will reduce demand for certificates
Germany's new, lower objectives for CO2 emissions will further reduce demand for carbon permits and destabilize Europe's already dysfunctional emission trading system, as stated by the EU's new energy official to a German newspaper.
read more... 08/12/2014
Daily: British gas prices decline as robust supply eclipsed higher demand
U.S crude oil prices settled higher on Wednesday at more than $67 after figures showed an unexpected decline in stockpiles, while a report indicating that Saudi Arabia expected lower prices for oil pulled down Brent below $70 a barrel. The spread between Brent and U.S. crude narrowed to below $3 a barrel, its lowest in 1-1/2 months.
read more... 04/12/2014
Daily: European power prices soar on strong demand due to colder weather
Crude oil prices increased by 5 percent on Monday, recovering from five-year lows, posting the largest daily gain since 2012, spurred by fears that the robust U.S. shale output criticized for the global oil oversupply is expected to shrink. Benchmark Brent crude oil rose by $2.39 to settle at $72.54 a barrel, after recording a session peak at $72.73. U.S. crude boosted $2.85 to close at $69 a barrel, after firstly plummeting to a five-year bottom at $63.72.
read more... 02/12/2014