Review of European Gas and Power Price Trends for April 2008

Research and Markets has announced the addition of the “Monthly Price Brief – A Review of European Gas and Power Price Trends: April 2008″ report to their offering. The growing role of wholesale traded energy markets across Europe creates a greater need for players throughout the value chain to be aware of the latest market movements and developments. From the wellhead or power station... 

Tag: gas and power correlation, gas retail price trend uk, regulator gas from germany, gas market hhi, gas power correlation

Energy Dept. and IEA Lower Oil Demand Outlook

The Energy Department and the Paris-based International Energy Agency both lowered their global oil consumption forecasts for this year amid surging prices, but said demand for oil and petroleum products is accelerating in parts of the developing world. In its monthly short-term Energy outlook, the Energy Department’s Energy Information Administration said oil consumption is falling more than... 

IEA Sees Slower Growth in Oil Demand

The International Energy Agency, an adviser to mostly western, industrialized nations, said high prices are cutting demand for oil and petroleum products in the U.S. and Europe. The IEA cut its global oil demand growth forecast for this year to 1.2 percent from 1.5 percent. In the U.S., the IEA said demand for oil may contract by as much as 2.1 percent this year, while demand for gasoline will drop... 

Oil hits another record high as dollar tumbles to record low

Oil prices hit all-time highs above $115 a barrel Thursday with reports that oil and gasoline stocks in the United States were lower than expected and as the dollar hit record lows. Light, sweet crude for May delivery rose as high as $115.52 a barrel in electronic trading on the New York Mercantile Exchange. It eased back to $115.23 a barrel by midday in Europe, up 30 cents. On Wednesday, the contract... 

Oil prices hover above $59 a barrel

Oil prices slipped but remained above $59 a barrel Thursday ahead of a U.S. government report that is expected to show crude oil inventories rose last week. Traders were also watching developments in the Middle East, with the stage being set for a fresh showdown between Iran and Western powers over the nation’s nuclear program. Light, sweet crude for April delivery on the New York Mercantile... 

Crude oil prices drop below $58 a barrel

Crude oil prices dipped Friday on forecasts for warmer weather in the U.S. northeast, the world’s largest heating oil market. The market also appeared to be reacting to news that OPEC output had dropped but was still above agreed cutbacks. Light, sweet crude for March delivery dropped 19 cents to $57.80 a barrel by midday in Europe in electronic trading on the New York Mercantile Exchange. The... 

FTSE nudges down as mining stocks weigh

The FTSE 100 index edged lower by mid-session on Friday after hitting a new six-year closing high in the previous session, as mining and oil stocks were weighed down by weaker commodity prices. Oil stocks led the FTSE 100 losing sector with crude prices easing below $58 a barrel as some investors focussed on forecasts for milder weather in the world’s top energy consumer, the United States,... 

Tullow Oil CFO: UK Schooner and Ketch Drilling Deferred

Expensive rig rates and low natural gas prices are seen prompting oil and gas producer Tullow Oil (TWL.LN) to delay planned drilling in two of its key U.K. offshore fields, which will ultimately force production to drop in 2007. Tullow’s Chief Financial Officer Tom Hickey told Dow Jones Newswires Friday that Tullow intends to reduce its drilling program in the Schooner and Ketch fields, explaining... 

Tag: schoooner and ketch, tullow oil ketch well, north west schooner tullow, schooner ketch fields

GE paying $1.9 billion for a drilling supplier

General Electric agreed Monday to buy a drilling equipment maker, Vetco Gray, for $1.9 billion as dwindling oil and gas reserves prompt energy companies to increase their investment in opening new fields. GE will gain 5,000 employees in more than 30 countries by acquiring Vetco from 3i Group, JPMorgan Partners and Candover Investments. The acquisition will also increase sales at the GE oil and gas... 

Oil prices fall to $55 a barrel

Light, sweet crude for February delivery dropped 77 cents to $55.32 a barrel in electronic trading on the New York Mercantile Exchange by midday in Europe. February Brent crude at London’s ICE Futures exchange fell 67 cents to $54.95 a barrel. The Nymex contract had fallen 22 cents to settle at $56.09 a barrel Monday on record high January winter temperatures in the U.S. Northeast. The volatile...