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UK gas prices rise as nearby demand outpaces supply LONDON: Prompt natural gas prices in Britain rose early on Tuesday as demand narrowly outstripped expected supply with a slight fall in Norwegian flows.Winter prices, however, were weaker, as hopes of a possible agreement between Russia and Ukraine in their dispute over gas supplies weighed on the market.Gas prices for delivery within the day were trading at 51.30 pence per therm at 0935 GMT, up 1.05 pence since their last close, and prices for delivery on Wednesday were up 1.20 pence to 51.20 pence a therm."The currently short system is offering additional support to prompt contracts," said Marcel Boonaert, head of trading and portfolio at gas supply company Wingas UK.Natural gas exports from Norway, Britain's biggest gas supplier, fell on Tuesday morning on lower deliveries, partly offset by small increases to Germany and France, data from gas system operator Gassco showed.Expectations that a solution to Russia's gas dispute over Ukraine's ...
Oil steadies above $97, supported by US, Chinese data LONDON: Brent oil steadied above $97 a barrel on Tuesday, supported by U.S. and Chinese economic data, but was still set for its deepest quarterly drop in more than two years because of strong supply and a surging dollar.Brent crude has slumped since June, when it hit this year's high of $115.71. Strong supply, a strong dollar and lacklustre economic data drove prices to a 26-month trough last week.Brent for November delivery was up 32 ...
Brent falls below $97 on weak Chinese data, strong dollar LONDON: Brent oil fell below $97 a barrel on Monday, moving closer to a two-year low hit last week as weak data from major buyer China and a stronger US dollar added to pressure from heavy supply. The international benchmark for crude has fallen from $115 in June as geopolitical tension in the Middle East failed to derail oil output, while concerns about slow demand have grown. Brent for November delivery fell 21 cents to ...
Turkey hikes natural gas prices 9pc from October ISTANBUL: Turkey will hike electricity and natural gas prices by 9 percent from October, Energy Minister Taner Yildiz said on Tuesday, blaming a weaker lira currency for the price hikes in the heavily import-dependent country. The hikes are expected to put further pressure on already stubborn inflation. Much of Turkey's electricity is generated using natural gas, meaning the price rise is likely to have a significant impact on household energy bills.Copyright Reuters, 2014 ...
Oil market dips on stronger dollar LONDON: World oil prices slid on Monday as dealers took their cue from the strengthening US dollar, analysts said.Brent North Sea crude for delivery in November shed 53 cents to stand at $96.47 a barrel in London midday deals.US benchmark West Texas Intermediate for November reversed 52 cents to $93.02 a barrel.In foreign exchange activity, the euro struck the lowest level against the dollar for almost two years, slumping to $1.2664 before rebounding.The euro is ...

 





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