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Daily: Brent crude collapses to 11-year low on weaker demand for heating oil
Brent crude oil plunged to its lowest price in more than 11 years on Monday, as demand for heating oil declined on warmer-than-normal temperatures. Brent's premium over U.S. crude narrowed further after President Barack Obama passed a law on Friday that will lift a 40-year ban on U.S. crude oil exports. U.S. crude futures rose 1 cent to settle at $34.74 a barrel in the last day of trading on the January contract, before slipping slightly in post-settlement trading. Brent futures collapsed 53 cents to end at $36.35, drooping as much as 2 percent during the session to a low of $36.04, their weakest since July 2004.
read more... 22/12/2015
Dutch Groningen gas output reduction to have €1.5bn impact on the treasury
The Dutch government decided on Friday to slash the volume of natural gas extracted from Groningen province again next year, following a recent Council of State ruling.
read more... 21/12/2015
Daily: Crude oil prices settle down for a third consecutive week on U.S. rig count hike
Crude oil prices declined about half a percent on Friday after a surprisingly increase of U.S. oil rig for the first time in five weeks, dragging down a market already at seven-year lows. Brent and WTI futures fell for a third consecutive week, ending 2015 down about 35% amid oil oversupplies. Brent ended the session down 18 cents, or 0.5 percent, at $36.88. Brent posted a 3 % decline on the week. WTI settled at $34.29 a barrel, the lowest level since February 2009, after the release of the Baker Hughes' report. For the week, WTI lost 2.5%.
read more... 21/12/2015
Energy provider in UK will cut gas prices in 2016
Energy provider Utilita has made known about the reduction in gas prices in 2016.
read more... 21/12/2015
IEA: Global coal demand will decline
Global coal demand has slowed down after more than a decade of “aggressive” growth, that’s according to a report by the International Energy Agency (IEA) which anticipates global demand for coal will be reduced by over 500 million tonnes by 2020.
read more... 21/12/2015