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Daily: Crude oil prices retreat from 2016 highs on Fed rate increase speculation
Crude oil prices retreated from 2016 highs and breaking a two-day hike on Wednesday, dragged down by a stronger dollar after the U.S. Federal Reserve unveiled it could increase rates next month. Brent and U.S. crude's West Texas Intermediate (WTI) futures had boosted closer to $50 a barrel on Wednesday after large gasoline and distillate withdrawals were announced by the U.S. Energy Information Administration (EIA). Brent crude eased 35 cents to settle at $48.93 a barrel. WTI fell 12 cents to close at $48.19 a barrel after hitting $48.95 - its highest level since mid-October.
read more... 19/05/2016
Statoil to build world’s largest offshore floating wind farm in Scotland
Statoil, the Norwegian energy company, was awarded a lease to use the seabed off the east coast of Scotland to build the world’s largest floating offshore wind farm.
read more... 18/05/2016
Work launched at the Greek section of Trans-Adriatic gas pipeline
Greece started on Tuesday the construction on a 550-kilometre (342-mile) section of the Trans-Adriatic Pipeline (TAP) which will carry Caspian gas to European markets in an attempt to reduce their reliance on Russia.
read more... 18/05/2016
France to set a carbon price floor of about 30 euros/tonne
France will establish a carbon price floor of about 30 euros ($33.95) a tonne in its 2017 finance bill, to compel French companies to further reduce the volume of their carbon emissions.
read more... 18/05/2016
Daily: U.S. WTI crude hits the highest level in seven months at $48.31/bbl
Crude oil prices rebounded for a second consecutive day on Tuesday, with U.S. futures attaining seven-month, on expectations of a decline in U.S. crude inventories and a new wildfire risk on Canadian oil supplies. U.S. WTI crude jumped 59 cents, or 1 percent, to end at $48.31 a barrel. The session high was $48.42 while the post-settlement peak was $48.76. Brent crude rose by 31 cents to settle at $49.28, reaching a six-month high of $49.58. In after-hours trade, it hit $49.75.
read more... 18/05/2016