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Daily: Brent crude hits the weakest level since 2003 as Iran sanctions lifted
Oil prices plunged to the lowest level since 2003 on Monday, dragged down by prospects of Iranian oil adding to the global glut after the lifting of sanctions against Tehran over the weekend. Worries about economic slowdown in China pulled out crude oil by 20% since the beginning of the year. Brent crude for March delivery shed 1.4% to settle at $28.55 a barrel on London’s ICE Futures exchange. Earlier in the session, Brent declined as low as $27.67 a barrel, its weakest level in nearly 13 years. WTI crude for February delivery lost 1.6% to trade at $28.94 a barrel.
read more... 19/01/2016
Denmark breaks another record in wind energy production
Denmark has broken another record of wind energy in 2015, having generated an astonishing 42% of its power from windmills, the highest share ever produced by any country.
read more... 18/01/2016
Eni CEO says Iran requires $150 billion of energy investment
Iran's emergence from economic sanctions will aid Europe to diversify its energy supplies, but the Islamic Republic will require to invest minimum $150 billion in infrastructure to turn into a major producer, the CEO of Italy's Eni SpA stated on Sunday.
read more... 18/01/2016
Ukraine gas reserves drop by 28% since the beginning of the heating season
Ukraine's gas reserves have dropped by approximately 28 percent to 12.3 billion cubic metres (bcm) since the start of the heating season in mid-October, as stated by the transport monopoly Ukrtransgas on Monday.
read more... 18/01/2016
Daily: European Cal’17 power contracts collapse at 13-year low tracking lower oil, coal and carbon prices
Crude oil prices plunged 6% on Friday to settle below $30 a barrel for the first time in 12 years, as Chinese stock markets declined further and traders expected an impending increase in Iran’s exports. Brent eased $1.94, or 6.3 percent, to settle at $28.94 a barrel, sticking below the key $30 a barrel threshold after briefly falling below that level in the previous two days. It dipped as far as $28.82, the weakest level since February 2004. U.S. crude lost $1.78, or 5.7 percent, to close at $29.42, after reaching a contract low of $29.13, its lowest level since November 2003, previously in the session.
read more... 18/01/2016