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Daily: Crude oil price curb gains after hitting $50 a barrel on oversupply worries
Crude oil prices touched $50 a barrel on Thursday for the first time in seven months, but curbed gains on the day as investors worried that the hike could spur output and add to the global oversupply. Brent rallied as high as $50.51, its highest level since early November, then retreated and closed down 15 cents at $49.59 a barrel. WTI eased 8 cents to settle at $49.48, after touching $50.21, its highest level since early October.
read more... 27/05/2016
Big oil companies to invest in green energy
Big oil companies are stepping up its investments in renewables and clean energy, being hit by declining oil prices and plunging profits.
read more... 26/05/2016
French Engie considers potential closure of its Hazelwood coal-fired power plant in Australia
French utility Engie, the operator of giant Hazelwood coal-fired power plant in Australia, mulls closing or sale of the unity, but the state government insists "no decision has been made".
read more... 26/05/2016
China inks a deal with Sudan to build African nation's first nuclear power plant
China National Nuclear Corporation (CNNC) and Sudan have inked a framework agreement for the construction of the first nuclear power plant in the east African country, aimed to cover the increasing power demand.
read more... 26/05/2016
Daily: European spot power prices fell on holiday, forwards gain support from higher fuel prices
Crude oil prices boosted about 2 percent on Wednesday after the U.S. government unveiled a bigger-than-expected fall in crude stockpiles, but profit-taking after the data release kept prices below the $50 a barrel level. Brent crude rose by $1.13, or 2.3 percent, to settle at $49.74 a barrel. Prices jumped as high as $49.96 in post-settlement trading. U.S. crude's West Texas Intermediate (WTI) increased 94 cents to settle at $49.56, after hitting a seven-month high at $49.62.
read more... 26/05/2016