07302016Sat
Last update: Sat, 30 Jul 2016 02pm

Europe

Markets - Energy - Europe

Oil prices drop before more US stockpiles data LONDON: Oil prices fell on Wednesday after data indicated a rise in US stockpiles, reigniting concerns about a supply glut, while profit-takers stepped in after the previous day's rally.Going forward, higher-than-forecast demand should bolster oil prices throughout 2016, despite high stocks continuing to exert downward pressure on prices, the International Energy Agency said Wednesday.On Tuesday, the American Petroleum Institute reported a 2.2-million barrel rise in US crude reserves last week.The figures rattled traders as the US Department of Energy prepares to release later Wednesday its own crude inventory figures, considered a key gauge of demand in the world's top oil consumer.At about 1130 GMT, US benchmark West Texas Intermediate for delivery in August was down 63 cents at $46.17 a barrel compared with Tuesday's close.Brent North Sea crude for September delivery shed 81 cents to $47.66 a barrel.Both contracts surged almost five percent Tuesday from two-month lows after OPEC said ...

Markets - Energy - Europe

Oil drops on IEA glut warning, rise in US stocks LONDON: Oil fell on Wednesday as the International Energy Agency (IEA) warned that a global supply glut continued to weigh on prices and data showed an unexpected weekly gain in U.S. crude stocks.The IEA, which advises industrialised nations on energy policies, said crude inventories kept rising last month and pushed floating storage, one of the most expensive methods of stockpiling, to the highest level in seven years."(Stocks) are at such elevated levels, especially for products ...

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

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 ...

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 ...