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UK gas prices rise as lower Norwegian supplies leave system short LONDON: Prompt natural gas prices in Britain rose on Wednesday morning as lower supplies from Norway led to an undersupplied system.Prices for within-day delivery were trading at 53.70 pence per therm at 0854 GMT, up 1.10 pence since their last settlement. Prices for delivery on Thursday were up 0.2 pence at 52.75 pence per therm.With supply flows at about 181 million cubic metres (mcm) per day on Wednesday and demand expected to be about 219 mcm, the system was 38 mcm undersupplied, National Grid data showed.Norwegian gas exports to Britain will be down by 10.8 mcm on Wednesday due to turbine problems at entry point SEGAL, gas system operator Gassco said in a market message.The outage, which started at 1401 GMT on Tuesday, is expected to last 39 hours.Meanwhile, almost half of Britain's nuclear capacity is offline, increasing demand for gas from gas-fired power stations.Wind power output in Britain also ...
Oil rises to $87 ahead of Fed statement LONDON: Brent crude oil rose to $87 a barrel on Wednesday as traders anticipated that the Federal Reserve would keep U.S. interest rates low, putting pressure on the dollar.The Fed is widely expected to end its two-year-old bond-buying stimulus programme, but to reiterate a cautious stance on raising rates, when it issues a statement at 1800 GMT."We're likely to see a slightly weaker dollar today, if the Fed is as dovish as expected, and that ...
Statoil swings to surprise net loss on impairment charges OSLO: Norwegian energy firm Statoil reported an unexpected third-quarter net loss on Wednesday, weighed down by a string of impairment charges on projects from Canada to Angola, even as its underlying performance was in line with forecasts. Statoil earned a net loss of 4.8 billion crowns ($726 million) against a 13.7 billion crown profit a year ago and well below expectations for a 9.5 billion crown net profit. Still, the firm maintained its production and ...
Oil rises above $86 ahead of Fed statement LONDON: Brent crude oil extended gains above $86 a barrel on Wednesday as traders anticipated the end of quantitative easing in the United Stated would squeeze the dollar.The Federal Reserve is widely expected to end its two-year-old bond-buying stimulus programme, and to keep interest rates low, in a statement due at 1800 GMT on Wednesday."We're likely to see a slightly weaker dollar today, if the Fed is as dovish as expected, and that will support ...
Brent oil steadies around $86 as weak dollar offsets data LONDON: Brent crude oil steadied around $86 a barrel on Tuesday, as a rally in European equities and a fall in the dollar offset weak U.S. data.U.S. durable goods orders in September fell by 1.3 percent, the country's Commerce Department said, a day after a survey showed the U.S. services sector expanding at the slowest rate since April.The data pointed to slowing oil demand, but also helped to drive down the U.S. dollar, supporting oil ...

 





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