Latest news
Oil production worldwide increase on increased reserves
Global production of crude oil increased in 2012 as reserves estimates increased also. Last year, global production of oil amounted to almost 76 million barrels per day, an increase of about 3% in comparison to 2011 levels.
read more... 02/07/2013
Daily: British spot gas prices trade higher on weaker LNG delivery
Crude oil futures traded higher on Monday, the first day of the third quarter, with gains in U.S. crude surpassing the rest of the oil complex and driving the U.S. contract’s discount to Brent to a 2-1/2 year low amid a broad commodities hike. Brent crude for August traded 84 cents higher at $103.00 a barrel. U.S. crude settled up $1.43 at $97.99, quitting the spread at $5.01.
read more... 02/07/2013
Daily: European coal posts a slight recovery along with other markets
Brent crude oil futures increased above $103 a barrel on Friday, registering the first monthly hike in five months, after comments from Federal Reserve governors that the Fed is not hurrying to scale back its massive bond-buying program. Meanwhile, Brent crude oil futures added 18 cents to $103 a barrel by 02:51 GMT, after dropping to a session low of $102.44 earlier as investors sold off gains from the previous session. U.S. crude oil increased 11 cents to $97.16 a barrel.
read more... 01/07/2013
UK menaced by blackouts of power within 2 years
According to the energy watchdog Ofgem the risk of power blackouts in UK has doubled in the last year, as the country is facing an energy crunch which will cause an increase of the energy bills. The supply crisis is the result of Britain forcing old coal and oil plants to shut down supporting projects of new green wind farms and nuclear plants.
read more... 01/07/2013
Daily: British prompt gas prices slightly increase as export pipeline resumes
Crude oil futures increased for a fourth consecutive session on Thursday, boosting over $1 a barrel on hope that monetary stimulus measures from major central banks would stay in place for the time being.
read more... 28/06/2013