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UK gas prices inch up as demand outstrips supply LONDON: British spot gas prices edged up on Tuesday morning due to higher demand after touching their lowest level since September 2010 the previous day.Prices for delivery on Wednesday were 0.15 pence higher at 35.45 pence per therm at 0743 GMT, having touched 35.00 pence on Monday, its lowest level Sept. 20, 2010.Gas for immediate delivery was trading at 35.65 pence per therm, up 0.15 pence from the previous settlement.Demand was forecast to be around 190 million cubic metres (mcm) on Tuesday, around 8.5 mcm above expected supply flows, National Grid data showed.UK gas prices have been falling steadily since last autumn due to a mild winter and healthy supplies.In June, total demand for gas in Britain fell by 9 percent year on year, National Grid data showed.However, the current level of prices have made production from medium-efficient gas plants more profitable, lifting power sector demand for gas in June ...
Brent oil hits fresh 1-month low under $110 in 7-day slide LONDON: Brent crude fell to a fresh one-month low beneath $110 a barrel on Tuesday, as prospects for a rise in Libyan oil exports improved and fears of supply disruption in Iraq eased.The benchmark is headed for a seventh straight session of losses, the longest losing streak since October 2012, and has shed 5 percent since the Iraq crisis drove prices to a nine-month high of $115.71 in June.Brent crude for August delivery was at ...
Oil steadies below $111 as supply fears fade LONDON: Brent crude oil steadied under $111 a barrel on Monday, just above a three-week low, as Libya geared up to resume oil exports from two ports closed for nearly a year.The North Sea oil benchmark dropped 2.3 percent last week, its biggest weekly decline since January, on the Libyan news and as Iraq's oil exports have remained largely unaffected by fighting in the north of the country.Supply of oil to several major markets, including ...
Greenpeace blocks Chevron's Romanian shale gas site PUNGESTI: Around 20 Greenpeace activists blocked access to a shale gas exploration site in Romania on Monday, in a third attempt to scupper the drilling operations of US energy group Chevron.Protesters locked hands and sat in front of the entrance to a drilling position in the northeastern village of Pungesti. They prevented a lorry from entering and displayed banners reading "No to fracking". Fracking is a controversial extraction technique that consists of injecting water and ...
Oil prices dip on Iraq crisis LONDON: Oil prices eased on Monday as dealers balanced declining concerns over the jihadist insurgency in Iraq with upbeat sentiment about US demand following strong jobs data, analysts said.Brent North Sea crude for delivery in August dipped one cent to stand at $110.63 a barrel around midday in London deals.US benchmark West Texas Intermediate for August fell 22 cents to $103.84 compared with Friday's close.Desmond Chua, market analyst at CMC Markets in Singapore, said oil ...


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