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UK gas prompt power price soars on tight winter supply forecast LONDON: British wholesale natural gas and power prices rose on Tuesday morning, with prompt power soaring due to National Grid expectations of tight electricity supply this winter.The baseload power price for delivery on Wednesday was 9.20 pounds or 22 percent higher at 52 pounds per megawatt-hour by 1002 GMT.Britain is likely to face tight electricity supplies due to the closure of several power plants, the country's grid operator said on Tuesday, but measures have been put in place to keep the lights on by curtailing energy use.However, Britain's energy market regulator Ofgem said the risk of energy supply disruptions this winter is no higher than that in recent years.From October to March, the de-rated average cold spell (ACS) margin - or the average excess supply over peak demand - could fall to 4.1 percent compared with 5 percent a year earlier, due to planned and unplanned power plant closures and ...
Oil drops below $85 after Goldman cuts forecasts LONDON: Brent crude oil fell below $85 a barrel on Monday after Goldman Sachs slashed its price forecasts, citing abundant supply and lacklustre demand despite a pick-up in global economic growth.The U.S. investment bank said in a research note on Sunday that it had cut its forecast for Brent to $85 a barrel from $100 for the first quarter of 2015 and reduced its projection for U.S. crude to $75 from $90.The bank said Brent ...
UK gas prompt gas prices flat as supply meets demand LONDON: Prompt natural gas prices in Britain were little changed on Monday morning as supply was expected to meet demand in a balanced market.Gas for day-ahead delivery traded at 50.45 pence per therm at 0921 GMT, flat with Friday's close. Gas for within-day delivery traded at 50.38 pence per therm, up 0.38 pence.With supply flows at about 209.3 million cubic metres (mcm) per day and demand expected to be about 210.4 mcm, the system was ...
Oil prices fall on high supplies LONDON: Oil prices fell on Monday as markets foresee the world's biggest producers maintaining supplies despite a supply glut, analysts said.Brent North Sea crude for delivery in December lost 77 cents to stand at $85.36 a barrel in London midday deals.US benchmark West Texas Intermediate for December dropped 52 cents to $80.50 a barrel.World oil prices have fallen by a quarter in value since June as excess supply and weaker demand led to a glut ...
Oil drops towards $85 after Goldman cuts forecasts LONDON: Brent crude oil fell towards $85 a barrel on Monday after Goldman Sachs slashed its price forecasts, citing abundant supply and lacklustre demand despite a pick-up in global economic growth.The U.S. investment bank said in a research note on Sunday that it had cut its forecast for Brent to $85 a barrel from $100 for the first quarter of 2015 and reduced its projection for U.S. crude to $75 from $90.The bank said Brent ...

 





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