Oil price sinks to five-month low

The price of oil has fallen dramatically, hitting its lowest level since November 2016. According to analysts, Brent crude fell to $47.49 (£36.7) a barrel, while US crude dropped to $44.58 (£34) a barrel yesterday although there has been some recovery today. Oil price has been falling since the start of the year despite OPEC’s […]

Oil prices fall after Iran's nuclear deal

Brent crude oil prices dropped 2% this morning after Iran agreed to curb its nuclear activities in return for around $7 billion (£4.33bn) in sanctions relief. Prices fell to $108.8 (£67.4) from $111.05 (£68.7) following the deal, according to energy expert David Hunter from Schneider Electric but recovered by mid-afternoon with Brent trading at around […]

Energy brokers must ‘come clean’ about ‘hidden commissions’

Energy brokers and suppliers are challenged to “come clean” and clearly state the amount of “hidden commissions” included on energy bills. The call from Schneider Electric comes ahead of the Energy Live 2013 conference tomorrow. One of the main sponsors of the event, it is also asking consumers if they are prepared to put up […]

China beats US as world’s largest oil importer

China has taken the top spot as the largest importer of oil in the world, according to US estimates. It beat the US last month, with its imports driven by “a steady growth in oil demand” as consumption in China outstripped production by 6.3 million barrels per day, the Energy Information Administration (EIA) revealed in […]

Suppliers urged to reveal ‘hidden commissions’ on energy bills

Energy suppliers and brokers are being urged to “be open about hidden costs” that are leading to higher energy bills for householders and businesses. David Hunter (pictured), Energy Expert at Schneider Electric claims “unknown levels of commissions” paid to energy brokers and price comparison sites could be contributing to a rise in energy bills. He […]

Minister's gas storage claim branded ‘disingenuous’

The Government’s claim that UK taxpayers will save millions of pounds following its decision against subsidising new gas storage facilities is “disingenuous”. That’s the damning verdict from the head of the Energy and Utilities Alliance (EUA) after Energy Minister Michael Fallon (pictured) declared bill payers would save up to £750 million over a 10-year period […]

Minister’s gas storage claim branded ‘disingenuous’

The Government’s claim that UK taxpayers will save millions of pounds following its decision against subsidising new gas storage facilities is “disingenuous”. That’s the damning verdict from the head of the Energy and Utilities Alliance (EUA) after Energy Minister Michael Fallon (pictured) declared bill payers would save up to £750 million over a 10-year period […]

Proposed fuel duty rise would have been “small”

The proposed rise in fuel duty this August would have been “small” compared to the reduction in fuel prices recently, according to an energy consultancy firm. David Hunter, Head of Strategic Partnerships at M&C Energy Group said the Government could have got away with the fuel duty rise. He told ELN: “The previously proposed 3p […]

EMR: government must not write blank cheque

The UK’s largest independent energy consultancy has said today’s Electricity Market Reform is “welcome news for an industry that has failed to invest in badly needed infrastructure for over a decade”. David Hunter, energy analyst at M&C Energy Group, said: “The reality is that consumers will have to foot the bill for replacing Britain’s energy […]

BP back in profit after Deepwater Horizon

BP has “come out of intensive care” today as it announced that it was “on track for recovery after the tragic accident on the Deepwater Horizon” and had returned to profit in the third quarter of the year. Releasing its third quarter figures, BP said its headline replacement cost profit for the third quarter was […]