Subscribe free to our newsletters via your
. Energy News .




ENERGY TECH
Oil mixed as US facilities avoid hurricane's fury
by Staff Writers
London (AFP) Aug 30, 2012


Crude oil prices traded mixed Thursday as supply concerns eased after Hurricane Isaac left production facilities in the US Gulf of Mexico relatively unscathed, analysts said.

Brent North Sea crude for delivery in October added 66 cents to $113.20 a barrel in early afternoon London deals.

New York's main contract, light sweet crude for October retreated 15 cents to $95.34 a barrel.

Fears about disruption to supply in the US Gulf from Hurricane Isaac had depressed prices but in the end proved unfounded, said Sanjeev Gupta, who heads the Asia-Pacific oil and gas practice at Ernst and Young.

"Most of the production facilities were shut down in advance of the storm, but early reports indicated fairly limited supply disruptions, thus taking some of the pressure off prices," he told AFP.

The Gulf of Mexico is the hub of US offshore energy production, accounting for 23 percent of crude oil output and 7.0 percent for natural gas.

The Gulf coast's facilities also have more than 40 percent of total US petroleum refining capacity and 30 percent of natural gas processing plant capacity.

Meanwhile, investor sentiment remains cautious on the eve of a speech from US Federal Reserve chairman Ben Bernanke.

Attention is now on a meeting of central bankers at Jackson Hole, Wyoming, where Bernanke is due to give a speech on Friday, with investors hoping he will outline plans for another round of monetary easing to kickstart the US economy.

burs/rfj/rl

.


Related Links
Powering The World in the 21st Century at Energy-Daily.com






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle








ENERGY TECH
Sea row set aside as China, ASEAN seek trade boost
Siem Reap, Cambodia (AFP) Aug 29, 2012
China and Southeast Asian nations pledged Wednesday to strive for closer economic ties, setting aside regional tensions over a territorial row in the resource-rich South China Sea. Trade between China and the Association of Southeast Asian Nations (ASEAN) jumped to over $200 billion in the first seven months of 2012, up nine percent year-on-year, Chinese Commerce Minister Chen Deming said du ... read more


ENERGY TECH
Russian Arctic resources

Zimbabwe utility halts disconnections

India's Reliance Power and China Datang ink deal

Romney touts energy independence by 2020

ENERGY TECH
Thai firm pleads guilty over Australian oil spill

China can 'safeguard' territory amid dispute: Xinhua

U.S. diplomat claims he was misquoted

Oil mixed as US facilities avoid hurricane's fury

ENERGY TECH
Japan starts up first offshore wind farm

Maximum Protection against Dust; Minimal Effort

US Wind Power Market Riding a Wave That Is Likely to Crest in 2012

Wind farms: A danger to ultra-light aircraft?

ENERGY TECH
Merkel says favours solving solar dispute via talks

Drexel-Penn Partnership to Develop More Efficient Dye-Sensitized Solar Panels

Microwave ovens may help produce lower cost solar energy technology

Novel technique to synthesize nanocrystals that harvest solar energy

ENERGY TECH
Japanese majority favor zero nuclear power

IAEA head says don't relax on nuclear safety

Greens see red after French minister hints at nuclear U-turn

Hundreds join anti-nuclear rally in Tokyo

ENERGY TECH
Japan toilet maker showcases 'poop-powered' motorbike

Biorefinery makes use of every bit of a soybean

Warning issued for modified algae

Genetically Engineered Algae For Biofuel Pose Potential Risks That Should Be Studied

ENERGY TECH
China eyes next lunar landing as US scales back

China unveils ambitious space projects

Is China Going to Blast Past America in Space?

Hong Kong people share joy of China's manned space program

ENERGY TECH
Carbon efficiency failing to fight warming: study

Past tropical climate change linked to ocean circulation

Drastic desertification

Forest Razing by Ancient Maya Worsened Droughts




The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement