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Daily: UK gas prices tumble amid firmer supply
Brent crude oil futures for April delivery dropped 84 cents to settle at $111.87 a barrel, while U.S. crude oil futures for April delivery increased by 13 cents to settle at $92.76 on Wednesday as investors worried that Federal Reserve's stimulus program will be maintained against the sixth consecutive weekly increase in U.S. crude oil inventories. The Brent contract traded between $111.65 and $113.35, while U.S. crude contracts traded between $92.18 and $93.37 during the session.
read more... 28/02/2013
Daily: Brent and U.S. crude decline on indecisive Italian elections results
Brent and U.S. crude oil futures dropped on Tuesday as indecisive Italian election results increased investors’ worries about instability in the euro zone and threatened the outlook for fuel demand.
read more... 27/02/2013
Daily: UK gas prices climb on colder weather, undersupplied system
Brent crude oil futures increased on Monday, backed by data indicating a high demand for imported crude in China in January, but uncertainty about Italy’s election capped oil from its early peak. Meanwhile, Brent April crude climbed 34 cents, or 0.30 percent, to settle at $114.44 a barrel, having traded from $113.73 and $115.87.
read more... 26/02/2013
Investment in the UK oil and gas at 30 year high
A new report suggests oil and gas investment rose to £11.4 billion in 2012 and is expected to rise even further to at least £13 billion this year. An industry body claimed that investment in the UK sector of the North Sea in 2013 will be the highest seen for more than 30 years.
read more... 26/02/2013
Supply problems in world oil market
A number of real and threatened supply problems are helping support oil prices this year, despite a weakening outlook for the world economy and slower growth in global fuel demand. More than 1 million barrels per day (bpd) of supply is estimated to be offline - 1.1% of daily world demand - including Libyan output yet to return to service.
read more... 26/02/2013