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Last update: Sat, 21 Jan 2017 09am

Europe

Markets - Energy - Europe

Low LNG deliveries in southern France tighten supply PARIS: French gas grid operator GRTgaz said on Friday that low liquefied natural gas (LNG) deliveries to the Fos-sur-Mer terminal in the south of the country had led to a tight supply situation and heavy withdrawals from saline storages to meet winter demand. The situation, which began in November, has led to a spike in the gas price in France's southern hub, which touched its highest level since December 2013 at 40 euros ($42.57) per megawatt-hour this week, widening the spread with prices in the north to 21.35 euros. When asked why deliveries were low a GRTgaz spokesman declined to comment. A trader said the main reason for fewer deliveries to the Fos terminal was higher Asian prices pulling supplies out of Europe, and also high Turkish demand which was draining off European supply."The Turks have ramped up imports to deal with high demand due to freezing weather," the trader ...

Markets - Energy - Europe

Oil set for weekly fall on doubts over extent of OPEC cuts LONDON: Oil prices are on track to end the week lower on lingering doubts over the extent of OPEC cuts, with sentiment worsened by concerns over the health of the Chinese economy after it reported the steepest falls in exports since 2009.Brent crude futures, the international benchmark for oil prices, were trading 60 cents down at $55.41 a barrel by 1220 GMT on Friday. US West Texas Intermediate crude futures fell by 58 cents to ...

Markets - Energy - Europe

Oil rises as Saudi tells Asian customers of output cuts LONDON: Oil prices rose for the first time in three days on Wednesday, following news of Saudi supply cuts to Asia, but persistent doubt over output reductions and signs of rising shipments from other producers kept gains in check.Brent crude futures were up 41 cents at $54.05 a barrel by 1133 GMT, while US West Texas Intermediate crude futures were up 39 cents at $51.21 a barrel. Brent has surrendered nearly 40 percent of the ...

Markets - Energy - Europe

Oil price forecasts for 2017, 2018 rise as downside risks fall LONDON: Energy professionals have become less bearish about the outlook for oil prices in 2017 and 2018 as downside risks have fallen, an annual survey by Reuters shows. But price expectations for the end of the decade have changed little since the last survey in March 2016. The survey was based on a questionnaire emailed to around 5,000 energy market professionals. Responses were received from just over 1,000 in the polling period, between Jan. 9 ...

Markets - Energy - Europe

Oil steady after recent fall as weaker dollar boosts prices LONDON: Oil prices steadied on Tuesday after a sharp sell-off as a fall in the dollar triggered a bout of short-covering, but analysts said the market looked vulnerable to further declines. Rising oil prices through December encouraged investors to buy large volumes of crude futures contracts and many of these "long" positions are likely to be unwound unless the market stays strong, analysts and brokers say. "I see this as a dead-cat bounce," said Ole ...