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US natgas futures end week up 9pc as storage dwindles NEW YORK: US natural gas futures meandered on Friday, ending little changed as traders awaited more direction from late winter weather forecasts.For the week, however, futures ended 9 percent higher, bolstered by the rapidly shrinking amount of gas in storage.Warmer-than-average temperatures forecast by MDA weather services would bring temperatures 15 degrees above average to the lower-central and eastern United States. Those regions have been gripped by far colder-than-average temperatures for most of the winter, moving gas prices higher on high demand for heating.Front-month natural gas futures on the New York Mercantile Exchange fell less than a penny Friday, settling at $5.214 per million British thermal units.The March contract rose 3 percent early in the day, then spent the day fluctuating in a 25-cent range while holding solidly above $5 per MmBtu.Storage levels of natural gas were drawn down 237 billion cubic feet over the week ended Feb. 7, a report ...

Oil prices hold firm after week's solid gains NEW YORK: Oil prices held up Friday despite a push to take profits at the end of a week in which crude futures reached multi-month highs on improved demand prospects.New York's main contract, West Texas Intermediate (WTI) for delivery in March, edged five cents lower from Thursday's close to $100.30 a barrel.Europe's benchmark contract, Brent North Sea crude for April delivery, picked up 56 cents to $109.08 a barrel in London deals.Oil prices had reached ...
US oil pares gains on stock build, Brent spread narrows NEW YORK: US oil rose on Wednesday but government data showing a larger-than-expected build in crude inventories pulled futures off the highs, with expectations for dwindling seasonal demand for heating fuels also helping curb the gain. Brent, though moderately higher, was pressured as traders sold the European benchmark and bought WTI after the US Department of Energy reported a large draw in stocks at the US futures contract benchmark delivery point. Brent drew support from ...
Petroperu tenders to buy two cargoes of ULSD HOUSTON: State-run Petroperu launched a tender to buy two 290,000 barrel cargoes of ultra low-sulfur diesel (ULSD) to be received in March at three different ports in Peru, according to an invitation seen by Reuters on Tuesday. Petroperu uses the open market both for buying and selling refined products. In January it sold one 220,000 barrel cargo of fuel oil and one 200,000 barrel cargo of virgin naphtha for delivery this month. The first ULSD ...
US approves exports from Cameron LNG terminal WASHINGTON: The US Energy Department on Tuesday approved exports from Sempra Energy's Cameron liquefied natural gas (LNG) project in Louisiana as the Obama administration moves forward with its goal of expanding the global market for the fuel. The conditional approval of exports from the terminal to countries with which the United States does not have free trade agreements, such as India and Japan, was the sixth approval by the department since 2011, and ...
US takes India to WTO on solar energy WASHINGTON: The United States said Monday it was taking India to the WTO to open up its solar industry, raising a new dispute weeks after a bitter feud over a diplomat's arrest.The United States asked for talks under the World Trade Organization to change India's requirements for the use of domestic content as part of the energy-hungry country's ambitious plan to boost solar power."This kind of discrimination is against WTO rules and we are determined ...
Brent oil down $1, heating oil, increased supply weighs NEW YORK: Brent oil fell by nearly $1 per barrel on Monday, pressured by sinking heating oil prices as the market looked toward the end of a long and frigid winter and as supplies increased from Libya and the North Sea.Investors also awaited direction from the new head of the U.S. Federal Reserve on the course of the central bank's monetary policy.Intense and relentless cold has propped up oil prices as demand for heating fuels ...

 



 
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Annual2012/13
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