Latest news
Daily energy Overview, Monday, August 22, 2011
Crude oil futures were mixed on Friday following a weaker dollar index that sparked risk trade and continuous worries about the economy. U.S. crude oil futures for September delivery traded at 82.26 dollars a barrel, down 12 cents after a trading range from 79.17 to 83.55 dollars a barrel, while ICE Brent crude for October delivery settled at 108.62 dollars a barrel, gaining 1.63 dollars after a trading range between 105.06 and 109.40 dollars.
read more... 22/08/2011
The “Big Six” face Ofgem investigation
The energy watchdog, Ofgem has brought in forensic accountants from BDO to investigate if the Big Six energy suppliers have underestimated accurately their profit margins in order to justify higher prices.
read more... 22/08/2011
Daily energy Overview, Friday, August 19, 2011
Crude oil futures pared losses on Thursday as a crop of low economic data supported more fears in the Unites States and pushed investors to cut down on riskier assets. By 19:06 GMT, NYMEX crude for September delivery valued 81.51 dollars a barrel, down 6.07 dollars, while ICE Brent crude for October delivery traded at 106.99 dollars a barrel, falling 3.61 dollars after a trading range from 106.27 to 110.75 dollars.
read more... 19/08/2011
E.ON announces drastic jobs cuts
Last week, E.ON, the largest power utility in Germany, announced its intention to cut up to 11, 000 jobs worldwide and reduce dividends after first-half profit plunged because of the increased costs following nuclear exit. That’s approximately 10 percent of jobs that will be affected by this drastic measure.
read more... 19/08/2011
Daily energy Overview, Thursday, August 18, 2011
U.S. and Brent crude oil futures increased on Wednesday recovering after a fall in prices as a government report about a huge drop in the U.S. gasoline stockpiles supported an increase in crude inventories and worries for a slow economic growth.
read more... 18/08/2011