Energy Update
BEIJING, May 10 (Reuters) - China will offer more financial
support to drive the rejuvenation of its struggling northeast
rustbelt over the next five years, an official with the state
planning agency said on Tuesday.
TOKYO, May 10 (Reuters) - Japanese oil refiner Idemitsu
Kosan Co said on Tuesday its joint venture with
Canada's AltaGas would suspend commercialisation of a
liquefied natural gas (LNG) project in Canada due to low energy
prices.
PRAGUE, May 10 (Reuters) - Czech electricity producer CEZ
reported a 32 percent rise in first-quarter adjusted
net profit on Tuesday, lifted by higher trading income, currency
gains and a boost from renewable sources in Romania that
compensated for falling power prices.
May 10 (Reuters) - A U.S. navy warship carried out a freedom
of navigation operation near a disputed reef in the South China
Seas on Tuesday, the U.S. Department of Defense said.
(Tue, 10 May 2016) During the first three months of 2016, crude oil prices were relatively more volatile than in recent history. This elevated volatility occurred when overall oil prices were low, and volatility was driven by high uncertainty related to supply, demand, and inventories. Crude oil price volatility has declined since its peak in March. Prices have risen as concerns about future economic growth have abated and as inventory growth has slowed since the start of the year.
May 9 (Reuters) - The executive director of New York City's
biggest regional transportation authority urged reforms of the
nation's environmental review process for infrastructure
projects on Monday to cut costs due to bureaucratic delays.
SINGAPORE, May 10 (Reuters) - Oil prices fell early on
Tuesday as Canadian wildfires that have knocked out over 1
million barrels worth of daily crude capacity moved away from
production facilities, while brimming inventories and a strong
U.S. dollar weighed on markets.
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