Energy Update
LONDON, July 12 (Reuters) - U.S. natural gas prices have
risen by a third since hitting a two-decade low in the first
quarter, amid signs supply and demand are rebalancing and excess
stocks left over from an unusually warm winter are being worked
down.
WASHINGTON, July 12 (Reuters) - The United States urged all
parties to avoid provocative statements or actions after an
arbitration court ruled on Tuesday that China has no historic
title over the waters of the South China Sea.
UK steel demand is likely to be hit by the nation’s exit from the EU. Construction and infrastructure development look set to take the brunt of the “Leave” decision.
PARIS, July 12 (Reuters) - France added 568 megawatts (MW)
of wind power in the first half of the year, lagging its
objective to add 1.5 gigawatts (GW) annually from 2016, an
industry group said on Tuesday.
LONDON, July 12 (Reuters) - OPEC on Tuesday was upbeat on
the oil market outlook for 2017, saying global demand for its
crude would be higher than its current production and excess oil
inventories would be whittled down.
MISRATA, Libya, July 12 (Reuters) - Libyan forces allied
with the U.N.-backed government have been shelling and carrying
out air strikes on the centre of Sirte city in a siege of
Islamic State militants there, an official said on Tuesday.
LONDON, July 12 (Reuters) - OPEC cut its forecast for world
economic growth this year on Tuesday, citing increased
uncertainty following Britain's vote to leave the EU and said
the pace of oil demand growth would slow slightly next year in
its first 2017 forecast.
BEIJING, July 12 (Reuters) - The arbitration case on the
South China Sea has put the dispute into dangerous territory of
worsening tensions and confrontation, Chinese Foreign Minister
Wang Yi said on Tuesday in comments carried by state news agency
Xinhua, dismissing the case as a "farce".
HANOI, July 12 (Reuters) - Vietnam welcomed a ruling by an
international arbitration court concerning the South China Sea
on Tuesday, saying it strongly supports peaceful resolution of
disputes, while reasserting its own sovereignty claims.
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