Wednesday, 17 April 2013 15:18
Posted by Shoaib-ur-Rehman Siddiqui
LONDON: Brent crude slid towards $99 per barrel on Wednesday, weighed by the prospect of sluggish fuel demand in top consumers the United States and China and rising stockpiles of US crude.More bleak economic news came courtesy of the International Monetary Fund (IMF), which trimmed projections for this year and next - implying limited upside for oil demand growth.The North Sea benchmark has lost nearly 6 percent over the past five sessions in a wider commodities rout triggered by data showing growth in China, the world's second largest oil burner, had slowed unexpectedly in the first three months of 2013.Gold later bounced back, although other metals such as copper continued to decline."At the moment the oil complex is in a technical downtrend with the fundamentals being driven by a deteriorating demand projection in a robust supply environment," said Dominick Chirichella of Energy Management Institute.The head of the International Energy Agency, ...
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LONDON: Brent crude slid towards $99 per barrel on Wednesday, weighed by the prospect of sluggish fuel demand in top consumers the United States and China and rising stockpiles of US crude.More bleak economic news came courtesy of the International Monetary Fund (IMF), which trimmed projections for this year and next - implying limited upside for oil demand growth.The North Sea benchmark has lost nearly 6 percent over the past five sessions in a wider commodities rout triggered by data showing growth in China, the world's second largest oil burner, had slowed unexpectedly in the first three months of 2013.Gold later bounced back, although other metals such as copper continued to decline."At the moment the oil complex is in a technical downtrend with the fundamentals being driven by a deteriorating demand projection in a robust supply environment," said Dominick Chirichella of Energy Management Institute.The head of the International Energy Agency, ...
MILAN: Italy's biggest renewable energy company Enel Green Power said on Tuesday it expected its core earnings in 2017 to be around 2.5-2.7 billion euros ($3.27-$3.53 billion).In a statement on its 2013-2017 business plan, Enel GP confirmed it would post earnings before interest, tax, depreciation and amortisation this year of around 1.8 billion euros.The company said it expected to generate cash flow in the 2013-2017 period of 8.4 billion euros which would help fund dividend ...
LONDON: Brent oil struck a nine-month low on Tuesday on demand fears after poor Chinese and US economic data, with sentiment also hit by the Boston bombings and ongoing tensions on the Korean peninsula, analysts said.In Asian trading hours, Brent North Sea crude for delivery in June slumped to $98 per barrel, hitting the lowest point since July 11, 2012.Elsewhere, New York's main contract, West Texas Intermediate (WTI) light sweet crude for May, dipped to ...
LONDON: Brent crude sank below $100 a barrel for the first time in nine months on Tuesday in a broad commodities rout after recent weak data from China and the United States spurred worries about oil demand.A dismal global economic outlook dragged gold down to a more than two-year low and shaved over $2 off oil prices earlier in the session. While commodities recouped some of the losses shaky investor sentiment kept a lid on ...
LONDON: Brent oil prices plunged Monday to a new eight-month low near $100 per barrel, mirroring losses across financial markets, after disappointing first-quarter growth data in top global energy consumer China.In earlier morning deals, Brent North Sea crude for delivery in May slid to $100.55 per barrel, which was the lowest level since July 13, 2012. It later stood at $101.00, down $2.11 from Friday.New York's main contract, West Texas Intermediate (WTI) light sweet crude ...
OSLO: Norway's top natural gas processing plant is expected to be back in full operation later on Saturday after its restart was unexpectedly delayed, gas system operator Gassco said. The Kollsnes plant on Norway's west coast was shut on Friday for maintenance but its restart took longer than expected because of low gas flows from the massive Troll field in the North Sea. Gas deliveries to the Kollsnes plant were still too low to declare ...
