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Daily: Crude oil futures diverge, with Brent up on British outage
Front-month Brent crude prices jumped on Thursday after a power outage cut production at Britain’s largest oil field and as the August contract was close to expiration. U.S. crude futures declined after giving up gains reacting to data from industry intelligence firm Genscape showing stronger crude stockpiles at the Cushing, Oklahoma hub. Expiring Brent August crude boosted 46 cents to close and go off the board at $57.51 a barrel, having touched $58.21. September Brent crude dropped 20 cents to hit $56.92, off its $58 intraday peak. U.S. crude for August delivery eased 50 cents to settle at $50.91, having fluctuated from $50.34 to $52.71.
read more... 17/07/2015
Ukraine to significantly increase the renewable energy production by 2020
Ukraine is planning to triple the share of renewable energy in its overall energy balance from the current 3.8 % to 11 % by 2020, according to declarations made by Deputy Regional Development Minister Roman Abramovsky.
read more... 14/07/2015
OPEC oil production rocketed to three-year high in June
The Organisation of Petroleum Exporting Countries (OPEC) oil supply has rocketed to a three year high in June due to a record breaking output from Iraq and flat exports from Saudi Arabia.
read more... 06/07/2015
Netherlands to slash production at Groningen gas field at 30 bcm
Production at the Groningen gas field will be capped further his year, as decided by Dutch Economy Minister Henk Kamp on Monday.
read more... 23/06/2015
Daily: Crude oil gains 2% on OPEC decision to hold output level
Crude oil established its first hike in three days on Friday, up 2 percent immediately after the OPEC’s cartel decision to hold production levels at 30 million barrels per day. Crude oil prices were volatile after the OPEC’s announcement, with Brent trading in a narrow range around $62 a barrel, before ending the day up at $63.31 a barrel. On April 16, the European benchmark hit a low of $60.94. For the week, it fell 3.6 percent. WTI crude firmed by $1.13, or almost 2 percent, to settle at $59.13. It lost 2 percent on the week.
read more... 08/06/2015