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Spot inches up as wind output falls further OSLO: Nordic day-ahead power prices inched up on Wednesday on expectations for lower wind power output and slightly higher consumption, analysts said.The day-ahead price for Thursday was set at 34.94 euros ($45.09) per megawatt-hour (MWh) at an auction on the Nord Pool Spot exchange, up from 34.74 euros for Wednesday.The day-ahead contract in the financial market last traded at 35.10 euros/MWh, meaning traders expected slightly higher spot prices."Spot prices firmed on expectations for lower output from wind power plants and lower temperatures boosting consumption slightly," said Mohammed Alfaki, an analyst at Thomson Reuters Point Carbon.Net imports to the Nordic countries were scheduled to increase by 680 MW, but this was partly offset by the restart of several paper mills, one of the biggest consumers, in the Nordic region.Elsewhere, power flows between Estonia and Finland have stopped completely as two subsea interconnections were shut due to technical reasons, Estonia's grid operator ...
Brent oil hits 17-month low near $98 on strong supply growth LONDON: Oil dropped to a 17-month low close to $98 a barrel on Wednesday as rising supplies and weak demand helped extend losses into a fifth session, while OPEC lowered the projected demand for its crude and U.S. product stocks jumped.International benchmark Brent crude has fallen by 15 percent since hitting a year high above $115 a barrel in June, with fast-rising U.S. output and the return of exports from Libya creating a market that ...
Brent hits 16-month low below $99 on strong US supply growth LONDON: Brent crude dropped to a fresh 16-month low below $99 a barrel on Wednesday with rising supplies and weak demand helping extend losses into a fifth session. Brent has fallen by more than 14 percent since hitting a year high above $115 a barrel in June, with fast-rising US output and the return of exports from Libya creating a market that looks increasingly over supplied. While a larger-than-expected drop in weekly US crude stocks ...
UK gas prices drop on low demand, cheaper oil LONDON: British wholesale gas prices fell on Wednesday as weak demand left the system slightly oversupplied and cheaper oil weighed on the market, although high gas exports to continental Europe provided some support.Gas for delivery in October traded at 49.05 pence per therm at 0735 GMT, down 0.5 pence on its last settlement, and prices for delivery over the winter 2014/2015 season were down 0.30 pence to 59.10 pence per therm.Gas prices for delivery on ...
Statoil start production at Fram H North and Svalin C OSLO: Norwegian oil and gas firm Statoil has started up production at its Fram H North and Svalin C facilities in the North Sea, it said on Wednesday. Preliminary estimates show that Fram H-North contains about 10 million barrels of recoverable oil equivalents while Svalin C has just over 30 million barrels of oil equivalents. Fram H-North is located in the Troll area and Svalin C is located in the Grane area. Both are part ...

 





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