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Oil prices drop before US data LONDON: World oil prices retreated Wednesday ahead of the latest official reading on crude stockpiles in main consumer United States.Prices had surged Tuesday on heightened geopolitical tensions sparked by Turkey's shooting down of a Russian fighter jet on the Syrian border.Analysts warned that further escalation could affect crude supplies from the oil-producing Middle East, noting however that the world was currently experiencing a supply glut that has caused prices to slump over the past 18 months.The US Department of Energy was Wednesday to publish weekly data on commercial energy inventories in the world's biggest economy.At around 1230 GMT, US benchmark West Texas Intermediate for delivery in January was down 45 cents at $42.42 a barrel.Brent North Sea crude for January shed 67 cents compared with Tuesday's close to $45.45 a barrel.Traders were looking ahead also to next week's OPEC meeting for signs on whether the oil-producing cartel would slash high ...

UK gas prices down on ample supply, milder temperatures LONDON: British gas prices were slightly lower on Wednesday morning on ample supply and milder weather forecast for next week.Gas for immediate delivery was down 0.05 pence at 37.05 p/therm at 0922 GMT, while gas for next-day delivery was down 0.2 pence at 37 pence per therm.Norwegian supply is strong at around 120 million cubic metres (mcm) per day and send-out from liquefied natural gas (LNG) terminals is healthy. However, temperatures next week are expected ...
Oil falls as spotlight returns to global glut LONDON: Crude oil futures fell on Wednesday as investor focus shifted back to a deep global supply glut and away from the threat of escalating violence in the Middle East, which pushed prices to two-week highs the previous day.Brent was down 76 cents at $45.36 a barrel at 1003 GMT, reversing brief gains earlier in the session.The benchmark had settled up $1.29 at $46.12 on Tuesday, having hit its highest since Nov. 11 at $46.50 ...
Poland says may remove gas price controls for industry from Q1 2016 WARSAW: Poland may next year remove controls it imposes on the price paid for natural gas by the biggest industrial consumers, in order to meet European Union requirements, energy market regulator URE said on Wednesday.Eastern Europe's biggest economy has begun to liberalise its gas market to comply with EU regulations, but URE continues to set the maximum price at which state-run distributor PGNiG sells gas to companies and households.Asked whether the price control could be ...
Gazprom says halts Ukraine gas deliveries over Kiev non-payment MOSCOW: Russian state giant Gazprom on Wednesday said it had halted gas deliveries to Ukraine after Kiev failed to make upfront payments for more supplies.Gazprom chief Alexei Miller said that as of 0700 GMT Ukraine's Naftogaz had used up all the gas it had paid for and "no new upfront payment has been made"."As such, deliveries have been stopped until the receipt of new payments from the Ukrainian company," Miller said in a statement."The refusal ...
Oil climbs as Turkey shoots down Russian jet LONDON: Global oil prices rose Tuesday after Turkey shot down a Russian jet on the Syria border, sparking fresh tensions in the crude-rich Middle East, dealers said.At about 1200 GMT, US benchmark West Texas Intermediate for delivery in January added 38 cents at $42.13 a barrel.Brent North Sea crude for January rebounded 68 cents to $45.51 a barrel, compared with Monday's closing level."Commodities have bounced back with oil trading higher with rising geopolitical tensions in ...
UK GAS-Prompt prices nudge higher as outages curb supply LONDON: British prompt gas prices rose on Tuesday morning, shrugging off warmer weather as lower imports from Norway curbed supply.Gas for within-day delivery fetched 37.60 pence per therm at 0916 GMT, up 0.05 pence since the last settlement.Gas for delivery on Wednesday rose 0.10 pence to 37.50 pence per therm. .An unplanned outage at Norway's Kvitebjorn gas field cut output by 21.2 million cubic metres (mcm) a day on Tuesday, operator Gassco said in a ...


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WeeklyNovember 23, 2015
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