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Daily: European year-ahead power prices at the highest level in nearly four months
Crude futures slipped on Monday and U.S. crude declined below $50 a barrel intraday, dragged down by robust supply, expectations of more Iranian crude to export and appreciating dollar. Brent crude for September delivery declined by 45 cents to settle at $56.65 a barrel, having fluctuated between $56.33 and $57.44. U.S. August crude, set to expire on Tuesday, shed 74 cents to close at $50.15, having fallen to $49.85, its first time below $50 since April.
read more... 21/07/2015
UK government sets out new rules for shale gas fracking in protected areas
The UK government has unveiled areas to be excluded from underground fracking activities, while a DECC’S new draft regulations has identified certain areas including national parks, areas of outstanding national beauty, the broads and world heritage sites, where hydraulic fracking will be permitted only below 1,200m, to preserve groundwater. Drinking water is not normally found below 400m.
read more... 20/07/2015
Daily: Crude oil prices diverge, but both contracts register third weekly loss
Brent crude boosted and WTI futures declined on Friday in choppy trading as higher imports outlook from Iran slashed prices and dragged down by contracts to their third consecutive weekly losses. Brent crude for September delivery rose by 18 cents to close at $57.10 a barrel, off nearly 3 percent for the week and more than 10 percent for the month. Brent's August contract expired on Thursday. U.S. crude for August delivery dropped by only 2 cents to settle at $50.89, down more than 3 percent this week and more than 14 percent in July. The August contract expires on July 21.
read more... 20/07/2015
Polish miner KW affected by crisis needs investors by end-August
Kompania Weglowa (KW), the European Union's largest coal miner which is on the edge of insolvency, has to find investors by the end of August, as stated by its chief executive on Thursday.
read more... 17/07/2015
Daily: Crude oil futures diverge, with Brent up on British outage
Front-month Brent crude prices jumped on Thursday after a power outage cut production at Britain’s largest oil field and as the August contract was close to expiration. U.S. crude futures declined after giving up gains reacting to data from industry intelligence firm Genscape showing stronger crude stockpiles at the Cushing, Oklahoma hub. Expiring Brent August crude boosted 46 cents to close and go off the board at $57.51 a barrel, having touched $58.21. September Brent crude dropped 20 cents to hit $56.92, off its $58 intraday peak. U.S. crude for August delivery eased 50 cents to settle at $50.91, having fluctuated from $50.34 to $52.71.
read more... 17/07/2015