Brent Oil price moving higher
Posted: Tue Feb 07, 2012 12:32 pm
We may be having a mild winter in the U.S. but Europe is suffering with bitter cold, all the way down to Italy.
The price of Brent crude oil is soaring again (now over $117/bbl), as Europe is being forced to burn oil for power generation. Russian natural gas supply has been cut back as a major cold wave grips the country. Europe is heavily dependent on natural gas imports from Russia. Poland could be in serious trouble if this continues.
Read this: http://www.businessweek.com/news/2012-0 ... upply.html
This is very good news for FX Energy (FXEN). It is also good news for our S-16 that sell most of their oil into the Gulf Coast market where oil is priced much closer to Brent. Those are EXXI, EPM, DNR, GPOR and ROSE.
The price of Brent crude oil is soaring again (now over $117/bbl), as Europe is being forced to burn oil for power generation. Russian natural gas supply has been cut back as a major cold wave grips the country. Europe is heavily dependent on natural gas imports from Russia. Poland could be in serious trouble if this continues.
Read this: http://www.businessweek.com/news/2012-0 ... upply.html
This is very good news for FX Energy (FXEN). It is also good news for our S-16 that sell most of their oil into the Gulf Coast market where oil is priced much closer to Brent. Those are EXXI, EPM, DNR, GPOR and ROSE.