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UK gas prices fall on rising North Sea supplies LONDON: Natural gas and power prices in Britain dropped on Monday morning as mild weather and a rise in imports of Norwegian gas and in power generation capacity left the system well supplied.Gas prices for delivery within the day were trading at 49.25 pence per therm at 0830 GMT, down 0.75 pence since their last close, and prices for delivery on Tuesday were down 0.55 pence to 49.20 pence a therm.The lower prices were largely a result of a rise in Norwegian supplies on Monday to their highest levels since May."Fundamentals are bearish this morning as the system is long, because there is a big rise in Norwegian imports as well as increased British production, resulting in too much gas in the system," one gas trader said.The oversupplied system, as well as a possible solution to the Russia-Ukraine gas crisis, also led to lower prices for winter gas deliveries, which ...
Brent falls below $97 on weak Chinese data, strong dollar LONDON: Brent crude 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 U.S. dollar added to pressure from strong supplies.The international oil benchmark has fallen from $115 in June as geopolitical tension in the Middle East failed to derail petroleum output, while concerns about slow demand have grown.Brent for November delivery fell 61 cents to $96.39 a ...
Brent drops below $97 on rising supply LONDON: Brent crude fell below $97 a barrel on Friday and headed for its biggest monthly drop since April 2013 as rising supplies outweighed fears that US-led strikes against militants in Syria and Iraq would disrupt oil production. Slowing economic activity in Europe and Asia has dampened demand for oil, while supply is on the rise. Libya's output has reached 925,000 barrels per day (bpd), the highest level since militias turned on each after the ...
Statoil makes uncommercial gas find in Arctic OSLO: Energy firm Statoil has made a disappointing gas find in the Arctic, continuing an unsuccessful run of exploration drilling in the Norwegian part of the region, an area Statoil has called an "exploration hot spot" with high potential.The company said it found between 5 billion and 20 billion standard cubic metres of gas or 30 million to 120 million barrels of oil recoverable equivalent at the Pingvin prospect, a discovery it assessed as non-commercial."For ...
Oil holds near $97, supplies counter disruption fears LONDON: Brent crude held near $97 a barrel on Friday but headed for its biggest monthly drop since April 2013 as rising supplies outweighed fears that US-led strikes against militants in Syria and Iraq would disrupt oil production. Slowing economic activity in Europe and Asia has dampened demand for oil, while supply is on the rise. Libya's output has reached 925,000 barrels per day (bpd), the highest since militias turned on each other after the ...

 





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