Crude oil prices ended down on Thursday, reversing a three-day hike after touching another 2016 high, as a stronger dollar triggered profit-taking in crude futures by investors. However, persistent worries about supply disruption in Nigeria limited losses. Brent crude oil futures closed down 56 cents at $51.95 a barrel, after declining nearly $1 earlier. It attained a 2016 high of $52.86 during the session. U.S. crude's WTI futures eased 67 cents to settle at $50.56, after falling $1 at the session low. WTI's intraday peak was $51.67, the highest level for this year.
read more... 10/06/2016
Energy giants BP and Eni on Thursday unveiled a considerable gas discovery off Egyptian coast, adding to a series of finds in the region in the last year.
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Increase in natural gas demand will reduce to an average 1.5 percent a year worldwide through 2021, since stagnation in Europe and doubts about Chinese consumption offsets robust growth in India, as stated by the International Energy Agency (IEA) on Wednesday.
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European electricity transmission system operator (TSO) TenneT successfully launched its second Green Bond worth €1bn for investing in the transmission of renewable electricity from offshore wind farms to the onshore electricity grid.
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Royal Dutch Shell has restarted acquisitions of Iranian crude, turning into the second major oil firm after Total to resume trade with Tehran after the lifting of sanctions, according to trading sources and ship tracking data.
read more... 09/06/2016