WEEKLY: OIL BELOW
Crude oil futures prices ended last week trading lower. The New York Mercantile Exchange October crude oil contract fell $1.16 in trading Sept. 5 to $93.29/bbl. The November contract dropped $1 to settle at $92.71/bbl.
The October natural gas contract lost 2.6¢ to settle at a rounded $3.79/MMbtu. On the US cash market, gas at Henry Hub, La., was $3.84/MMbtu, down 5¢ for the second straight day.
Heating oil for October delivery was down 1.71¢ to a rounded $2.82/gal. Reformulated gasoline stock for oxygenate blending for October delivery declined 1.65¢ to a rounded $2.58/gal.
The October ICE contract for Brent crude delivery fell $1.01 to $100.82/bbl. The November contract declined 90¢ to $101.40/bbl. The ICE gas oil contract for September was lost $12 to $851.75/tonne.
The average price for the Organization of Petroleum Exporting Countries' basket of 12 benchmark crudes on Sept. 5 was $98.36/bbl, falling 77¢.
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THE LOCAL FRANCE - Angola and French oil giant Total formally launched a major new offshore oil project Saturday to aid the country's economy that plunged into crisis following oil price dips in 2014.
WNN - China's State Power Investment Corporation (SPIC) says it has signed a memorandum of understanding (MoU) for "global cooperation" in nuclear energy with Westinghouse Electric Company of the USA.
WNN - Advanced Nuclear Technologies - otherwise known as small nuclear or small reactor technologies - encompass a wide range of nuclear reactor technologies under development, BEIS noted. "The common attributes that these technologies share is that they are smaller than conventional nuclear power station reactors and are designed so that much of the plant can be fabricated in a factory environment and transported to site, reducing construction risk and making them less capital-intensive," it said.
WNN - Poland and the USA have signed a Joint Declaration of Energy Security, which emphasises the expansion of their cooperation in a variety of areas, including civil nuclear energy. The document was signed in Warsaw yesterday by Polish Energy Minister Krzysztof Tchórzewski and US Secretary of Energy Rick Perry.