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UK gas prices up on field outage, lower temperatures, Ukraine concern LONDON: British wholesale natural gas prices rose on Monday morning on the back of an unplanned outage at a North Sea gas field, lower temperature forecasts and concerns about the transit of gas from Russia via Ukraine.Day-ahead British gas prices increased by 1.00 pence to 38.50 pence per therm by 0839 GMT. Gas for immediate delivery was up 0.30 pence at 38.00 pence per therm."The prompt has ticked up on the back of another outage at J-Block, lower temperature forecasts and bullish curve contracts," a gas trader said.ConocoPhillips' North Sea J-Block natural gas field went into an unplanned outage on Sunday, the operator said.The shutdown started at 3:20 p.m. local time (1420 GMT) and ConocoPhillips said an investigation was under way as to when the field would return to service.The field's typical production rate is 10 million cubic metres per day.Temperatures across Britain are also expected to fall below the ...

Oil below $105 as Iraq pumps crude despite conflict LONDON: Brent crude oil slipped below $105 a barrel on Monday as U.S. intervention in Iraq eased concerns over the risk of disruption to supply from OPEC's second-largest producer.Oil jumped sharply at the end of last week as Islamic State fighters made rapid gains in parts of northern Iraq and came within striking distance of more of the country's oilfields.But U.S. air strikes on the Sunni insurgency calmed market worries over the risk to oil ...
Putin, launching US-Russia oil project, touts 'pragmatism' MOSCOW: President Vladimir Putin said Russia is still open for business with Western companies despite sanctions as he ceremonially launched a joint US-Russian oil exploration project in the Arctic."Despite the difficulties of today's political context, pragmatism and common sense prevail, and that is very satisfying," Putin said as state-owned Rosneft and US oil giant ExxonMobil began exploring for oil in the Kara Sea off the northern coast of Siberia."We welcome of course and we are ...
Oil prices rebound as US mulls air strikes in Iraq LONDON: Oil prices rebounded on Friday as the threat of US air strikes on Iraq triggered fresh worries over supply disruptions in the crude-rich country. US benchmark West Texas Intermediate (WTI) for delivery in September rose 79 cents to $98.13 a barrel.Brent North Sea crude for September jumped $1.03 to stand at $106.47 in London midday deals.Prices recovered at the end of a week during which crude futures have been pressured by a firmer dollar ...
UK gas prices slip on supply but near-term bullish factors seen LONDON: British natural gas prices declined across the board on Friday as supply trumped demand, but analysts said bullish factors could support the market in the near term.Day-ahead gas prices were down 1.7 percent at 37.25 pence per therm at 0810 GMT, while the further out front-month and winter 2014 contracts shed 0.7 percent each.According to the National Grid, Britain's gas system was forecast to be oversupplied by nearly 7 million cubic metres (mcm) on ...
Oil falls towards $104 on supply, sanctions growth impact worry LONDON: Brent crude oil fell towards $104 a barrel on Thursday as ample supply in global markets was compounded by worries over the impact of trade sanctions on global economic growth.Russia announced a full list of U.S. and EU food imports to be banned in retaliation against Western sanctions over its support for rebels in Ukraine."This continued escalation between the EU, U.S. and Russia over sanctions will be a negative for global econmoic growth," said ...
UK gas winter prices rise on Russian supply fears LONDON: British natural gas prices for delivery next winter rose 2 percent early on Thursday on fears that escalating tension between Russia and Europe could lead to disruptions of gas supply later in the year.The Winter 2014 contract traded at 60.61 pence per therm at 0907 GMT, up 1.36 pence on Wednesday's settlement. The September contract was up 1.18 pence to 41.50 pence per therm."Gains on the Winter '14 contract continue to support prices from ...


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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
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WeeklyOctober 20, 2014
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