News
Energy market update 26/08/16
The week ending the 26/08/2016 represented a period of cooling amid concerns that a scheduled OPEC meeting would curb oil production. In the previous week, when the OPEC meeting was announced, oil prices retreated with the expectation that a policy of little major change would be applied.
The pound rising slightly against the dollar, and a surprise increase in US oil storage levels also helped push prices down.
The pound rising slightly against the dollar, and a surprise increase in US oil storage levels also helped push prices down.
Update (06/09/2016): A new agreement between OPEC Saudi Arabia and non-OPEC producer Russia caused the price of oil to jump yesterday. The two countries announced that they had agreed to discuss ways of stabilising the oil market, hinting that a “freeze” on output could happen in the future. The price of Brent crude jumped 5% initially before stabilising at 1.6% above its original level.
Published by Utility Helpline on (modified )
Latest Posts
Energy Broker Partnerships | Business Energy Procurement & TPI Partnerships UK
How Can Companies Protect Against Energy Price Increases?
TPI Aggregator Software for Business Energy | UK Energy Broker Platforms
What Tools Do Energy Brokers Use in the UK?
Energy Procurement Platform vs Traditional Broker
Talk to us about how we can save you money