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Daily: Oil prices rebound on outage, API data showing considerable U.S. crude stockpiles increase
Brent crude rose by 4 percent on Tuesday, while U.S crude increased over 2 percent, after a late buying boom driven partly by forecasts that record U.S. crude stockpiles would not surge as much as they have in recent week. Crude supply outages in Canada, Nigeria and elsewhere also spurred prices. Brent increased by $1.89, or 4.3 percent, to close at $45.52 per barrel. U.S. crude's West Texas Intermediate (WTI) futures boosted 1.22, or 2.8 percent, to settle at $44.66. WTI pared gains after API data. The American Petroleum Institute (API) said that U.S. crude inventories increased by 3.45 million barrels to record highs of 543.1 million during the week ended May 6.
read more... 11/05/2016
French oil company Total to acquire battery manufacturer Saft
French oil firm Total intends to acquire battery maker Saft, extending its push into new energy technologies, as stated by the companies.
read more... 10/05/2016
Natural gas deal: Turkey-Israel poised to warm their relations
Israel and Turkey are on the verge to sign an energy deal, according to media sources.
read more... 10/05/2016
UK: Energy efficient measures will reduce by 73% by 2020
The yearly number of energy efficiency measures installed in UK households will reduce to 1.6 million in 2020.
read more... 10/05/2016
Daily: Crude oil loses ground as focus turns from Canada deflagration to U.S. stockpiles rally
Crude oil prices declined on Monday on expectations that U.S. crude stockpiles would rally again to record highs, neglecting declining oil production in Canada after raging wildfires. Brent settled almost 4 percent lower, with U.S. crude falling almost 3 percent. WTI's front-month contract, June, lost $1.22, or 2.8 percent, to settle at $43.44 a barrel. Brent's front-month contract for July delivery eased $1.74, or 3.8 percent, to close at $43.63.
read more... 10/05/2016