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Daily: Crude oil plunges 5 % on Brexit possible implications over economy
Crude oil prices plunged nearly 5 percent on Tuesday, on investors’ concerns that Britain’s exit from the European Union would sink the economy, with energy demand incapable of absorbing the oversupply. Brent futures lost $2.14, or 4.3 percent, to settle at $47.96 a barrel, while U.S. crude declined $2.39, or 4.9 percent, to close at $46.60.
read more... 06/07/2016
EDF reiterates its support for Hinkley Point nuclear project despite Brexit
French power utility EDF on Monday reiterated its support for the development of delayed new nuclear power station at Hinkley Point in southern England, declaring that British referendum to quit the European Union will not affect its plans.
read more... 05/07/2016
Siemens puts new wind power investment plans in the UK on hold after Brexit
Siemens, the largest engineering firm in Europe decided to freeze new wind power investment in UK following the vote to leave the European Union until future trading arrangements are clarified.
read more... 05/07/2016
Norway-England subsea power link to advance despite Brexit
The construction of a subsea power link between Norway and England will continue despite Britain’s decision to leave the European Union, declared Norwegian transmission grid operator Statnett.
read more... 28/06/2016
Daily: Oil prices plunge 3 %, with Brent hitting seven-week low on Brexit unrest
Crude oil prices plunged nearly 3 percent on Monday, with Brent reaching seven-week lows, dragged down by rallying dollar and market uncertainty over Britain’s surprising vote to leave the European Union threatened to weaken oil’s rebound this year. Brent and U.S. crude have lost almost 8 percent since Thursday's settlement - the largest two-day drop in nearly five months after Brexit vote. Brent eased $1.25, or 2.6 percent, to settle at $47.16 a barrel. It dipped to a seven-week low of $46.69 during the session. WTI crude shed $1.31, or 2.8 percent, to close at $46.33.
read more... 28/06/2016