• 4 minutes The Federal Reserve and Money...Aspects which are not widely known
  • 8 minutes How Far Have We Really Gotten With Alternative Energy
  • 12 minutes  What Russia has reached over three months diplomatic and military pressure on West ?
  • 8 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 6 days European Parliament Members, Cristian Terhes et al, push back against Totalitarian Digital ID and Carbon Tyranny in Europe.
  • 16 hours Once seen as fleeting, a new solar tech proves its lasting power
  • 5 days "How Long Will The Epic Rally In Energy Stocks Last?" by Tsvetana Paraskova at OILPRICE.COM
  • 3 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 8 days "...too many politicians believe things that aren’t true." says Robert Rapier
  • 8 days Coincidence of EIA Report Delay? - "I had seen it delayed minutes, and a couple of times a few hours, but don’t recall something like this — do others?" asks Javier Blas

Breaking News:

Oil Should Stay In Triple Digits: Analyst

Investors Dump Copper As Demand Stumbles

Investors Dump Copper As Demand Stumbles

Copper prices have plummeted to…

Libya Declares Force Majeure On Oil Exports

Libya Declares Force Majeure On Oil Exports

Libya’s National Oil Corporation (NOC)…

UK Gas Price Surge Forces Key Industrial Sites To Close

Two industrial sites that produce a combined 40 percent of the UK’s fertiliser have been forced to halt operations due to recent record gas prices.

The Times reported that CF Industries had shuttered its plants at Billingham in Teesside and Ince in Cheshire as a direct result of the price spikes.

The closures came as gas prices hit record levels yesterday after a fire at a National Grid facility in Kent forced one of the UK’s crucial power interconnectors to close.

Prices closed in on £2 a therm yesterday, six times higher than a year ago.

As a result of the blaze, the 2 gigawatt cable, which connects the UK’s energy grid to France, will be offline for six months.

This further raises the prospect of an expensive winter for consumers in a market already tight due to a shortage of global gas supply.

In addition, a period of low wind speeds has seen the amount of wind power capacity produced by the UK drop off, leading the country to fire up some of its old coal generators.

As a result of rising prices, Ofgem has already been forced to hike bills for some 15m households by around 12 percent from next month.

Two more energy suppliers were also forced out of the market this week as a result of the price surge, leaving 500,000 customers needing a new supplier.

By City AM

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment
  • George Doolittle on September 17 2021 said:
    So soaring prices are great news for demand is the point being made here...yet again?

    That's what Seeking Alpha is always saying since Day One.

    Meanwhile physical gold and silver prices are doing what in US Dollars again?

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News