MILAN/LONDON, Aug 21 (Reuters) – Germany is providing
multi-billion-euro financial guarantees to help its biggest
utility E.ON strike long-term gas import deals, a
source with direct knowledge of the matter said, as the country
seeks to reduce its dependence on Russian supply.
Germany meets around 40 percent of its gas demand through
imports from Russia, but relations between the two countries
have deteriorated since a crisis erupted in Ukraine in February.
LONDON, Aug 21 (Reuters) – Brent crude oil fell towards $101
a barrel on Thursday, just above a 14-month low, on plentiful
fuel supplies and Chinese economic data pointing to slowing
The world’s top two crude oil benchmarks have fallen by more
than $10 a barrel since June on a build-up of supply in the
Atlantic Basin and diminishing worries over the risk that
conflicts in the Middle East would hit oil production.
LONDON, Aug 19 (Reuters) – Britain’s dominance in European
natural gas trading is under threat from a Dutch trading hub
where volumes are soaring, buoyed in part by Europe’s utility
companies who prefer to hedge their deals in euros.
Britain has been the region’s leading gas trading hub since
North Sea oil and gas discoveries in the 1970s made it Europe’s
main producer. This position was cemented when it liberalised
its energy markets in the 1990s, meaning much of its gas was
sold and exported in pounds.
LONDON, Aug 19 (Reuters) – Brent crude oil prices on Tuesday
were close to 14-month lows reached the previous day as weak
demand and improving supplies weighed on the market, although
global political risk still provided some support.
Brent shed nearly $2 on Monday as investor worries over
conflict in Iraq eased and as higher Libyan oil output added to
already ample supplies.
LONDON (Reuters) – Oil fell below $102 a barrel to its lowest in over a year on Monday as investor concerns over conflict in Ukraine and Iraq eased, and as higher Libyan oil output added to already ample supplies.
Crude jumped on Friday after the government in Kiev said its artillery had partially destroyed a Russian armoured column. While fighting between Ukrainian forces and pro-Moscow separatists continues, fears of a further escalation proved unfounded.
SINGAPORE/LONDON, Aug 18 (Reuters) – Brent crude fell more
than $1 to trade below $102.5 a barrel on Monday, as the threat
of wider conflict in Ukraine diminished, oil output increased in
Libya and worries eased over supply from key producer Iraq.
The drop followed a spike in benchmark prices on both sides
of the Atlantic on Friday when fighting in east Ukraine
LONDON/BRUSSELS (Reuters) – The European Union’s proposed sanctions against Russia, targeting sensitive technology, take aim at Gazprom’s huge South Stream gas pipeline project to Europe and Novatek’s Arctic Yamal liquefied natural gas (LNG) facility.
A draft proposal outlines a package of targeted measures in the areas of access to capital markets, defense, dual use goods and sensitive technologies, EU diplomats said on condition of anonymity.
LONDON, July 22 (Reuters) – Brent crude oil rose above $108
a barrel on Tuesday, boosted by escalating political tensions
over Ukraine and fighting in Gaza, while U.S. prices were
supported by expectations of a drop in national stockpiles.
European foreign ministers meet in Brussels on Tuesday, and
Britain, Germany and France may be prepared to increase
sanctions against Russia, the world’s second-largest oil
LONDON, July 22 (Reuters) – British natural gas prices for
delivery in late summer and autumn are set to rise in coming
weeks as large-scale North Sea maintenance makes it more
difficult for utilities to stock up on reserves ahead of peak
demand in winter.
Prices could be pushed even higher by the Ukraine crisis,
which many analysts fear will result in a disruption in the
supply of Russian gas destined for western Europe and flowing
LONDON (Reuters) – The global market for seaborne thermal coal will be oversupplied by around 10 million tonnes this year, keeping prices below profitable levels for most coal producers well into 2015 or longer and forcing more mines to close.
Coal prices have halved over the past three years as a result of rising output from exporters including Australia, Indonesia, South Africa, Colombia and the United States and sluggish demand from both industrialized and emerging markets.