energy-market
Top StoriesUK’s Truss Says Energy Firm Profit Is Not Evil as Bill Forecasts Soar
Top StoriesOil Leak Contained at Three U.S. Gulf Platforms on Pipeline Outage, Shell Says
Top StoriesBritain Considers Energy Bill Subsidy for Industrial Firms
Top StoriesOil Prices Slip on Cloudy Demand Outlook, but Poised for Weekly Gain
Oil Output Halted at Three U.S. Gulf Platforms on Pipeline Outage, Shell Says
Date: August 11, 2022
By Arathy Somasekhar and Laila Kearney HOUSTON (Reuters) -Top U.S. Gulf of Mexico oil producer Shell said it had halted production at three of its U.S. Gulf of Mexico deepwater platforms after a leak shut pipelines connecting the platforms. A failure at an onshore pipeline junction in Louisiana leaked about two barrels of oil, said...
Oil Rises as Iea Hikes 2022 Demand Growth Forecast
Date: August 11, 2022
By Ahmad Ghaddar LONDON (Reuters) -Oil prices rose by over 1% on Thursday after the International Energy Agency raised its oil demand growth forecast for this year as soaring natural gas prices lead some consumers to switch to oil. Brent crude futures gained $1.29, or 1.3%, to $98.69 a barrel by 1348 GMT, while U.S....
Switch From Gas Boosts Oil Demand, but Economic Headwinds Loom – Iea
Date: August 11, 2022
By Noah Browning LONDON (Reuters) – Sweltering summer temperatures and soaring gas prices have boosted the use of oil in power generation, the International Energy Agency (IEA) said on Thursday, increasing demand but masking weakness in economies beset by recession fears. The Paris-based agency described the rise as a quirk of an energy market rattled...
UK Consumer Energy Debt Already at Record Levels – Survey
Date: August 10, 2022
By Kate Holton and William James LONDON (Reuters) – British consumer energy debt is already at an all-time high, a survey showed on Wednesday, with six million households owing an average of 206 pounds ($249) to providers, before bills leap in October and again in January. Britain is bracing for an 82% rise in energy...
As German Gas Rationing Looms, Industry Begs Exemptions
Date: August 9, 2022
By Tom Käckenhoff, Vera Eckert and Christoph Steitz DUESSELDORF/FRANKFURT, Germany (Reuters) -Germany’s network regulator, which would be in charge of gas rationing in the event of a supply emergency, has received scores of exemption requests from across industry, reflecting fears of potential production cuts and subsequent losses. Germany is at phase two of a three-stage...
UK Prime Minister Candidate Truss Sticks to Tax Vow Despite Soaring Bills
Date: August 9, 2022
By Susanna Twidale and Kate Holton LONDON (Reuters) -Liz Truss, the frontrunner to be Britain’s next prime minister, stuck to her plan to cut taxes to help households cope with a looming 230% leap in energy prices, despite warnings that lower taxes won’t help those facing increased poverty and destitution. The Bank of England warned...