02092016Tue
Last update: Tue, 09 Feb 2016 01am

Europe

Markets - Energy - Europe

UK GAS-Prices steady ahead of cooler weather LONDON: British gas prices were little changed on Monday in a near balanced system with the outlook for cooler weather supportive of prices for the remainder of the week. Gas for immediate delivery traded down 0.05 pence, or 0.2 percent, at 28.85 pence per therm as of 0953 GMT. Gas for delivery Tuesday was up 0.20 pence or 0.7 percent at 28.95 pence per therm. Britain's gas system was undersupplied by 5 million cubic metres (mcm), with demand forecast at 288 mcm, in line with seasonal norms, while supply was 283 mcm, according to National Grid data. Temperatures are expected to drop below seasonal norms from Wednesday, boosting demand for gas for heating. Thomson Reuters analysts said they expected the higher demand to trigger an increase in storage withdrawals later in the week. "We now forecast 49 mcm/d of withdrawals between Monday and Friday compared to 39 mcm/d in our ...

Markets - Energy - Europe

Crude oil slips as Saudi, Venezuela meeting yields little LONDON: Crude oil prices eased in thin trade on Monday as a meeting between OPEC producers Saudi Arabia and Venezuela showed little indication that steps would be taken to boost prices. Global benchmark Brent futures were down 8 cents at $34.98 at 0932 GMT.They fell 40 cents to $34.06 a barrel on Friday. US crude futures fell by 23 cents to $30.66, after falling 83 cents to $30.89 on Friday. Both contracts firmed slightly earlier ...

Markets - Energy - Europe

Russian finance ministry says oil taxes favour business, not state MOSCOW: Russian Finance Minister Anton Siluanov said on Saturday oil taxes in Russia favoured businesses, not the state, and there was room to increase the country's mineral extraction tax, TASS news agency reported."At current oil prices, taxes on oil companies benefit the producers and not the budget," TASS quoted Siluanov as sayingCopyright Reuters, 2016 ...

Markets - Energy - Europe

Oil creeps higher before US payrolls LONDON: World oil prices held firm on Friday, guided by the weaker dollar ahead of non-farm payrolls data in top global crude consumer the United States.In midday deals in London, Brent North Sea crude for April delivery added 29 cents to stand at $34.75 per barrel.US benchmark West Texas Intermediate for delivery in March added 38 cents to $32.10 a barrel, compared with Thursday's close.Shailaja Nair, from energy information provider Platts in Singapore, told AFP ...

Markets - Energy - Europe

Oil rises further above $35 on dollar, talk of producer meet LONDON: Oil rallied further above $35 a barrel on Thursday, adding to the previous session's 7 percent jump, as support from a weaker dollar offset concern about ample supply and record-high US inventories. Crude also gained as Venezuela's oil minister, on a tour to lobby for steps to boost prices, appeared to be gaining support from more members of the Organization of the Petroleum Exporting Countries and outside producers for a meeting. The dollar weakened ...

Markets - Energy - Europe

Russia's Gazprom says no need for gas price war in Europe MOSCOW: The deputy head of Russian gas giant Gazprom said on Thursday the was no need to wage a pricing war with rivals over European gas markets. Alexander Medvedev also said that if productions costs and prices for liquefied natural gas fell, Gazprom would have to respond by cutting costs. Copyright Reuters, 2016 ...

Markets - Energy - Europe

Statoil cuts spending, to offer share option on dividends OSLO/LONDON: Norway's Statoil pledged on Thursday to keep cutting capital spending as oil prices fall, after reporting better than expected fourth-quarter results, and said it would give shareholders the option to take their dividends in shares instead of cash. Statoil said it now plans capital spending this year to be in the order of $13 billion, down from $14.7 billion in 2015. Last October it had forecast total capital spending in 2015 would be $16.5 ...