07252016Mon
Last update: Mon, 25 Jul 2016 08pm

Europe

Markets - Energy - Europe

French carbon pricing committee proposes tax on coal-fired power plants PARIS: A French government advisory committee has recommended that France increase taxation on coal-fired power plants, or set stiffer carbon emissions standards, to encourage a shift to gas-fired plants to reduce carbon emissions.The proposal was included in a report handed to French Environment Minister Segolene Royal on Monday by the committee, which was appointed in March to review European carbon pricing and make recommendations to the French government.France currently chairs the United Nations climate negotiations COP21 and is looking to introduce measures that will strengthen carbon pricing within the European Union.The report also includes a proposal announced last month that the EU introduce a carbon price corridor mechanism with floor and ceiling prices, and an auction system, which could help fix the European Emissions Trading System (ETS), which saw prices tumble due to a glut of permits.The three-man advisory committee is headed by the chairman of French energy company Engie, ...

Markets - Energy - Europe

Oil falls further under $50 on Asia demand concern LONDON: Oil fell on Monday over signs that U.S. shale drillers have adapted to lower prices and on renewed indications of economic weakness in Asia where refiners are already trimming crude runs.Brent crude was trading at $46.26 per barrel at 0942 GMT, down 50 cents from its last settlement. U.S. West Texas Intermediate (WTI) crude was down 57 cents at $44.84 a barrel on the futures market.Physical markets were also under pressure. Rising Canadian oil ...

Markets - Energy - Europe

Oil prices edge up as Brent pushes further above $50 LONDON: Crude prices edged up on Monday, building on recent gains with Brent holding above $50 after Nigerian militants claimed fresh attacks on the country's oil infrastructure.Prices see-sawed last week, plunging in the immediate aftermath of Britain's shock decision to leave the European Union but rallying after central banks worldwide vowed support to financial markets.At about 1045 GMT, US benchmark West Texas Intermediate was up 13 cents at $49.12, while Brent rose 16 cents to ...

Markets - Energy - Europe

Oil falls further under $50 on Asia demand concern LONDON: Oil fell on Monday over signs that U.S. shale drillers have adapted to lower prices and on renewed indications of economic weakness in Asia where refiners are already trimming crude runs.Brent crude was trading at $46.26 per barrel at 0942 GMT, down 50 cents from its last settlement. U.S. West Texas Intermediate (WTI) crude was down 57 cents at $44.84 a barrel on the futures market.Physical markets were also under pressure. Rising Canadian oil ...

Markets - Energy - Europe

Asian buying of West African crude to edge higher in July LONDON: Loadings of West Africa oil heading for Asia are set to edge higher in July, supported by firm demand for Angolan oil from China and India, a Reuters survey of shipping fixtures and traders showed.The roughly 1.7 million barrels per day (bpd) scheduled to sail east in July as of now could well move higher, shipping sources said, as some buyers are waiting to book vessels amid weakening freight costs.Already, the volume for July ...