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UK gas prompt dips on resumed St Fergus flows LONDON: Prompt natural gas prices in Britain dipped on Wednesday following two days of strong gains, as flows resumed at Shell's St Fergus terminal after an unplanned outage on Tuesday.The day-ahead contract was down 0.2 pence or 0.4 percent at 49.80 pence/therm by 0917 GMT, retreating from a two-week high of 50.45 pence touched in the previous session.On Tuesday, Shell said some minor unplanned maintenance had impacted flows to St Fergus, but the company failed to flag up the unplanned drop in volume to zero from around 20 mcm/day on Monday evening."St Fergus receipts are not yet up to pre-outage levels of 22 million cubic metres. However, some gas has been re-routed through Langeled, mitigating the impact," analysts at Thomson Reuters Point Carbon wrote, referring to the pipeline that connects Britain to Norway.An appreciating British pound also weighed on prices.British gas demand, estimated to be 167.9 mcm on Tuesday, was ...
Rosneft calls Khodorkovsky comments on Sistema owner arrest ‘absurd’ MOSCOW: Russia's top oil producer Rosneft said comments by ex-Yukos chief Mikhail Khodorkovsky linking the house arrest of a the owner of Sistema to Rosneft's interests in the conglomerate's oil assets as "absurd", RIA news agency reported. "I don't understand why Rosneft has something to do with that? This is absurd," the news agency quoted a Rosneft spokesman as saying on Wednesday. Khodorkovsky, in an interview with Vedomosti business daily, alleged that Rosneft's head, Igor ...
Oil above $98, OPEC supply comments offset concern over demand LONDON: Brent crude oil rose above $98 per barrel on Tuesday, as the prospect of a likely supply cut from OPEC outweighed the impact of weak demand from the world's biggest energy consumers.OPEC Secretary General Abdallah El-Badri told reporters he expected the group to lower its oil output target to 29.5 million barrels per day (bpd) from 30 million bpd when it meets next in late November.Oil had fallen to a 26-month low the previous ...
Oil prices rebound as OPEC hints at lower output LONDON: World oil prices rebounded sharply on Tuesday after the head of OPEC indicated that the crude producers' cartel could cut its production target for 2015.The widely-reported comments came from Abdullah El-Badri, Secretary-General of the Organization of the Petroleum Exporting Countries (OPEC), after talks with Russian Energy Minister Alexander Novak in Vienna.In late afternoon deals, Brent North Sea crude for delivery in November rallied $1.40 to $99.28 per barrel from Monday's closing level.US benchmark West ...
ddiOil prices hold steady LONDON: World oil prices stabilised on Tuesday as investors continued to digest weak global data and awaited the start of the US Federal Reserve's latest monetary policy meeting.In late morning deals, Brent North Sea crude for delivery in November firmed nine cents to $97.97 a barrel from Monday's closing level.The October contract sank to a two-year intra-day low of $96.21 before its expiry Monday, dented by weak data from top energy consumers the United States ...

 





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