THE WALL STREET JOURNAL ONLINE
New York crude-oil futures fell slightly in quiet trade, pressured by continuing doubts about OPEC production cuts, as well as forecasts for seasonally warm weather. But the switch to a new front-month contract meant prices ended the day about $3 a barrel higher than Friday’s settlement. Here is Monday’s roundup of oil and energy news:
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EU PRODS RUSSIA ON ENERGY: The European Union urged Russia and other neighbors to commit to long-term energy contracts that will guarantee them customers and investments while securing affordable oil and natural gas supplies for the EU. The appeal, which came at the start of a two-day conference of officials from the EU and oil and gas exporting nations, underscored Western Europe’s desire to make energy a top priority at a time when its demand is growing, its own supplies are dwindling and world prices are high.
•U.S. Prods IEAE on Iran: The U.S. said it would accept Iran’s request for U.N. aid on seven nuclear projects but urged the International Atomic Energy Agency to deny assistance for a plutonium-producing reactor that can be used to make a bomb.
•Nigerian Hostages Released: Italian energy giant Eni said a two-week armed siege at a Nigerian crude oil pumping station it operates ended late Sunday, and that all hostages were released unharmed.
•More Nigerian Violence: Armed men forced their way into the offices of a Nigerian aid group in the southern oil hub of Port Harcourt, killing two people and wounding two others, the organization’s head said.
•Methane Levels Flatten: In what is possibly a sign that one contributor to global warming is under control, a new study finds levels of atmospheric methane have flattened in recent years after decades of growth, CNET reports.
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