Latest news
United States and China signed a production sharing contract on shale oil
U.S. energy company Hess Corp has signed a co-operation agreement with China National Petroleum Corporation (CNPC) to develop a shale oil block in China.
read more... 30/07/2013
Daily: Crude oil drops on concerns about Chinese demand
Crude oil prices dropped on Friday, prolonging losses amid worries over slipping Chinese demand after the world’s second-largest oil consumer ordered factories to cut production fearing about an excess of capacity. Brent futures for September delivery eased 48 cents to settle at $107.17 per barrel, after registering a 46-cent gain on Thursday. U.S. light crude for September slipped 79 cents to settle at $104.70 a barrel. The North Sea benchmark's premium to West Texas Intermediate was $2.45.
read more... 29/07/2013
Daily: British gas prices hit 3-week high on summer reduced supply
Crude oil prices increased in quiet trade on Thursday, pushed up by a slightly weaker dollar, while gasoline futures decreased nearly 4 cents per gallon, being hit by a fast dip in the cost of ethanol credits. Meanwhile, Brent crude traded 46 cents up to settle at $107.65 a barrel, off lows of $106.40 a barrel. U.S. crude boosted 10 cents to settle at $105.49 a barrel. The European benchmark's premium to West Texas Intermediate was wider than last week, keeping around $2.23.
read more... 26/07/2013
New gas discovery in Italy’s PO Valley
Sound Oil plc, an independent oil and gas company, which activates mainly in Indonesia and Italy, has announced a new gas discovery at Nervesa well, in Italy’s Po Valley. A further announcement on total estimated quantities at the site will be made in the coming months, with possible production envisaged for 2015.
read more... 25/07/2013
Daily: European coal prices boost on Colombian miners’ strike
Crude oil prices dropped on Wednesday, dragged down by pessimistic data from China, with U.S. crude declining more harshly than Brent late in the session as traders took profits on the spread difference between two contracts. Brent crude edged $1.23 down on Wednesday to settle at $107.19 a barrel. U.S. WTI crude lost $1.84 to settle at $105.39, after closing 29 cents higher. Brent's premium to U.S. oil futures diminished to 56 cents in early European trade, then broadened in the U.S. afternoon, settling at $1.80.
read more... 25/07/2013