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Russia's Gazprom says risks to gas transit via Ukraine 'critical' MOSCOW: Risks to the transit of Russian gas to Europe via Ukraine have reached a "critical" level, Russia's top natural gas producer Gazprom said on Friday in its third-quarter financial results under Russian Accounting Standards. Russia caters for a third of the European Union's gas needs, while half of Russian gas exports to Europe flow via Ukraine. Copyright Reuters, 2014 ...
Brent crude hits new four-year low LONDON: Brent oil slumped Thursday to a new four-year low on expectations that OPEC will unlikely to cut production levels to counter the global supply glut, traders said.At about 0820 GMT, London's Brent crude for delivery in December dived to $79.55 per barrel, hitting a low point last witnessed in late September 2010.The contract later stood at $79.88 per barrel, down 50 cents from the closing level on Wednesday, when it had first tumbled below ...
UK gas prices ease as supply surpasses demand in mild weather LONDON: Wholesale natural gas prices in Britain fell on Thursday as gas flows were more than enough to meet demand with temperatures remaining above seasonal trends.UK gas for delivery on Friday was 0.45 pence lower at 54.25 pence per therm at 0944 GMT, while gas for immediate delivery was 1.25 pence lower at 53.25 pence per therm.Flows were expected to be around 226 million cubic metres (mcm) on Thursday, and demand was around 217 mcm, ...
Brent oil hits four-year low below $80, awaits OPEC LONDON: Brent crude oil fell to a four-year low below $80 a barrel on Thursday after Chinese data showed a further slowdown in activity in the world's biggest energy consumer and Saudi Arabia remained silent about a possible cut in production.China's economy lost momentum in October, with factory growth dipping and investment growth hitting a near 13-year low, reinforcing expectations of a slower increase in fuel demand from the major emerging nations.Developing economies have been ...
Oil below $80 hits rouble, naira; politics weighs on Ukraine LONDON: A renewed downward lurch in oil prices put emerging market commodity currencies under more pressure on Thursday, with Russia's rouble facing additional headwinds from a flare-up in tensions with Ukraine.As Brent crude dropped through $80 and Ukraine deployed troops amid fears of a new separatist offensive in the country's east, the rouble sank more than 1.5 percent against the dollar."There is a risk of oil prices dropping further and the geopolitical risk is making ...