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Daily: British spot gas prices jump amid an undersupplied transmission system
Crude oil prices edged higher on Monday, prolonging an increase triggered last week by hopes that OPEC might agree to slash output to reduce oversupply that has dragged down prices to their weakest level in a decade. Brent crude futures, the global benchmark, rose 21 cents at $33.57 a barrel at 14:28 GMT. U.S. futures stood at $29.68 a barrel, up 24 cents on Friday's settlement. Trade was thinner than usual on Monday due to the U.S. Presidents Day holiday.
read more... 16/02/2016
Iran’s oil industry commences a “new chapter” after 5-year-halt
Iran has exported its first crude oil shipment to Europe since international sanctions ended, raising worries that more supplies will be added to the worldwide glut.
read more... 15/02/2016
Daily: Crude oil soars from 12-year low as OPEC pledges to cut output
Global oil prices soared as much as 12 percent on Friday after the release of a report indicating OPEC might finally agree to slash production to curb the oversupply. WTI crude's front-month boosted $3.23, or 12.3 percent, to close at $29.44 per barrel, attaining a session high of $29.66. It reached a 12-year low of $26.05 the previous day. For the week, it declined 4.7 percent. Brent rose by $3.30 to settle at $33.36 a barrel, having declined below $30 on Thursday. Weekly losses retired to 2 percent.
read more... 15/02/2016
Daily: European electricity forward prices at fresh lows, carbon market depressed
Oil prices rose by around 5 percent on Friday after comments by the energy minister of OPEC-member United Arab Emirates sparked hopes of a coordinated output reduction, yet analysts declared such a move remained improbable and that oversupply would continue.
read more... 12/02/2016
Eni, Exxon, Statoil obtain Irish offshore oil and gas authorizations
The Irish government declared on Thursday it had granted oil and gas licenses to firms including oil majors Eni, Exxon and Statoil, permitting them to explore for hydrocarbons off the coast of Ireland.
read more... 12/02/2016