Brent crude oil fell below $109 a barrel on Monday as refineries along the U.S. East Coast wound down operations ahead of the approach of Hurricane Sandy, reducing crude use in the world’s largest oil consumer. ›

It has been said in a report on Friday that Britian faces a potential shortfall in electricity generation in the next three to four years. ›

Analysts said on Monday that Britain may receive more Norwegian gas in the 2012/13 gas year as continental European customers take more Russian supplies, which became more competitive following contract negotiations during the past months. ›

Maintenance at Total’s St Fergus receiving terminal was today extended by a further two days, cutting up to 11.5mn m³/d from the UK system’s gas import capacity. ›

Oil headed for its biggest quarterly gain this year as personal spending in the U.S. rose in line with forecasts, signaling an economic recovery that may boost fuel demand. ›

Oil advanced as optimism that central bank stimulus will revive the global economy pared crude’s biggest weekly decline in more than three months. ›

US Light Crude Oil rose to $100 a barrel in New York for the first time since May as the Federal Reserve pledged further economic stimulus, while unrest in the Middle East and North Africa fanned concern that supplies will be threatened. ›

Norway’s gas exports to Europe were broadly stable on Friday morning ahead of a production halt at its main gas processing plant and its biggest gas field next week. ›

European natural gas prices need to rise by $2 per million British thermal units (mmBtu) in order to attract cargoes of liquefied natural gas (LNG) and avoid a winter supply squeeze, Goldman Sachs said on Thursday. ›

U.S. crude futures rose more than $3 on Friday, pushing above $90 a barrel on support from a U.S. July nonfarm payrolls report showing employers added 163,000 jobs, above expectations for an increase of 100,000. ›