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IEA: oil demand worldwide to grow considerably in 2014
According to IEA report, global oil demand in 2014 would grow at a faster rate than in 2013 thanks to accelerating world economic growth. The International Energy Agency issued a report according to which economic recovery in the advanced economies is probable to boost global oil demand.
read more... 12/12/2013
Daily: German spot power up on colder weather, while French contract tumbles
Brent crude oil boosted on supply worries as traders were doubtful that Libyan oil exports would resume, while U.S. crude dropped after government data showed a big increase in refined oil products, showing a sluggish oil demand. Brent crude oil boosted 32 cents to settle at $109.70 a barrel, after reaching a session low of $108.62. U.S. crude futures for January delivery eased $1.07 to $97.44.
read more... 12/12/2013
Daily: British gas prices increased due to reduced supplies from Norway
Brent crude stay above $109 a barrel on Tuesday ahead of economic data from China, which may confirm signs of stabilizing growth and fuel demand in the world's second largest oil consumer. Brent crude for January increased 14 cents to $109.53 per barrel by 03:15 GMT, while the U.S. crude futures for January delivery increased 18 cents to $97.52 per barrel. Brent's premium to WTI lessened about $7 in almost two weeks as TransCanada Corp has begun filling a 700,000 barrel-per-day pipeline, which will transport crude oil from Cushing to Gulf Coast refiners.
read more... 11/12/2013
Chinese power demand to double by 2026
According to a report presented by the China Electricity Council (CEC), China's electricity consumption will almost double, reaching almost 8.2 trillion kWh by 2020. In the last ten years China has experienced huge economic growth, which has required an equally huge growth in capacity of its energy generation industry. China has managed to triple its electricity infrastructure capacity, adding an average 80GW of new power every year.
read more... 11/12/2013
Daily: German spot power prices sag on hurricane-force winds in northern Europe
Brent crude oil futures dropped, while U.S. crude oil futures climbed for a fifth consecutive session on Thursday, narrowing the spread between the two benchmarks contracts to a two-week low as optimistic U.S. economic data suggested an increase of demand for oil in the world's largest consumer.
read more... 06/12/2013