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Daily: Crude oil prices increase on Middle East turmoil
Crude oil prices hit a nine-month intraday high on Friday following news that the United States has allowed sending U.S. weapons to Syrian rebels, increasing worries about Middle East supplies. Meanwhile, front-month Brent futures settled 98 cents higher at $105.93 per barrel, the highest settlement price since April 9, after hitting a high of $106.64. Brent, which had been fluctuated between $99 and $105 for the past eight sessions, settled up 1.3 percent on the week. Meanwhile, U.S. oil closed $1.16 higher at $97.85 per barrel, the highest settlement since late January, after hitting a nine-month high of $98.25, up 1.9 percent on the week.
read more... 17/06/2013
Daily: European spot power prices mixed on warmer weather in Germany, colder in France
Crude oil prices settled slightly higher on Wednesday, but gains were slashed by lower oil demand growth previsions and solid supplies. Spot Brent crude oil futures ended 53 cents higher at $103.49 after trading as high as $104.10. Brent contract for July delivery expires on Thursday. August Brent crude oil futures closed the day at $103.56, up 59 cents. Meanwhile, front-month U.S. crude oil futures settled 50 cents higher at $95.88.
read more... 13/06/2013
OPEC to keep oil production target unchanged, with oil at $100
The Organization of the Petroleum Exporting Countries (OPEC), which supplies about 40 percent of the world’s oil, decided to keep its production target unchanged for a third consecutive time, stating that crude prices at about $100 a barrel are relatively strong.
read more... 04/06/2013
Cost factors dominate EU energy policy debate
Financial crisis has made the cost of energy the political focus in the European Union at the expense of goals to shift to a low-carbon economy. An EU summit on taxation and on energy on May 22 is expected to debate how to limit the negative impact of energy costs on EU competitiveness. Apart from seeking supplies that are competitive, the other watchwords for EU energy policy are sustainable and secure. Below are the main planks of the debate in Brussels.
read more... 28/05/2013
UK was 6 six hours distance from finishing its gas supplies in March
At the end of March this year the reserves of natural gas detained in storage were at one of their lowest level, due to an unusually cold winter and intensified problems at a processing plant in Norway with flows of gas supplies to Britain via the Langeled pipeline which fell significantly, along with other supplies from Belgium, being just six hours away from finishing its gas supplies.
read more... 27/05/2013