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Daily: European prompt power prices fall on strong wind supply, lower consumption
Brent crude recovered on Tuesday after a 5-year low and U.S. crude also rebounded as players were looking for a viable price for oil in a market chased by supply glut worries. Brent increased 65 cents, or 1 percent, to settle at $66.84 a barrel. U.S. crude rose 77 cents to close at $63.82 a barrel, after having fluctuated between a high of $64.20 and low of $62.25.
read more... 10/12/2014
Daily: U.S. oil settles at the lowest level since July 2009 on bearish oil market
Brent crude contract for January delivery plunged in afternoon trade on Friday as the market struggled with the supply glut due to the U.S. shale boom and the recent decision by the OPEC not to curb production. It declined 67 cents to settle at $70 a barrel. U.S. oil ended at a 5-year low on Friday as strong U.S. employment figures increased slightly the bearish oil market a day after Saudi Arabia slashed official selling prices. U.S. crude futures eased 97 cents to settle at $65.84 per barrel, its lowest level since July 29, 2009.
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
LNG transporter Hoegh predicts challenging market until 2016-2017
Oslo-listed liquefied natural gas (LNG) transporter Hoegh LNG registered third-quarter profits below expectations on Wednesday and declared its market could continue to be tough for the next two to three years because of an oversupply of vessels.
read more... 27/11/2014