Latest news
UAE to back plan to freeze oil production at January levels
The United Arab Emirates (UAE) will back the initiative of top producers to freeze output levels in case of a deal by OPEC members and Russia, helping to halt a slide in crude prices that has pushed them to their lowest point in more than a decade.
read more... 19/02/2016
Daily: European spot power prices diverge, with French contract down amid weak demand
Brent crude ended lower on Thursday after figures indicated U.S. crude stockpiles soared to record highs eclipsed output freeze plans by top oil producers that had considerably increased the market this week. Brent crude fell 22 cents to settle at $34.28 a barrel, having boosted more than $1.20 before the data. U.S. crude rose slightly 11 cents to end at $30.77 a barrel, after an earlier peak at $31.98.
read more... 19/02/2016
Daily: Oil recovers 7% as Iran hails output freeze
Crude oil prices rebounded 7 percent on Wednesday after Iran announced it will support any effort to stabilize oil prices, including Russia- Saudi move to freeze production to deal with the market glut that dragged down prices to their weakest level in a dozen years. Brent rose by $2.32, or 7.2 percent, to settle at $34.50 a barrel. U.S. crude boosted $1.62, or 5.6 percent, to close at $30.66 a barrel.
read more... 18/02/2016
Norwegian Statoil to create $200m green energy fund
Norwegian energy giant Statoil has launched $200m (NOK 1.7bn) venture capital fund to invest in renewable energy sector.
read more... 17/02/2016
Daily: Brent losses almost 4 % after top producers deal
Brent oil lost almost 4 percent on Tuesday, slashing early gains after top producers Russia and Saudi Arabia agreed to freeze oil output at near-record levels, the first coordinated move by the world’s two largest producers to counter a decline that has hit economies, markets and companies. Brent fell $1.21 to settle at $32.18 a barrel, after increasing earlier to $35.55. U.S. crude declined 40 cents at $29.04, off the day's peak of $31.53.
read more... 17/02/2016