Page 3 - Ben Luckock News Today

In addition to causing spikes in electricity demand as people fire up air conditioners, the scorching temperatures have led to a spate of disruptions at oil refineries.

As the world makes its efforts to lessen its dependency on fossil fuels, the rise in weather-driven refinery disruptions focuses on the surging array of challenges. The rising heat has led to refiners slash oil processing by nearly 2% globally in the past two months.

European crude processing dropped by 700,000 barrels a day over the summer from a year earlier, according to an estimate from industry consultant FGE - around 6 percent of regional throughput, based on figures from BP Plc’s latest Statistical Review of World Energy.

Searing temperatures from Texas to Tokyo over the summer are the latest reminder of a growing headache for the energy system, as extreme heat becomes a threat to fuel supply.

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero

Global trading house Trafigura and U.S. software developer Palantir Technologies on Wednesday launched a platform to calculate carbon emissions in supply chains for the energy sector. ...

Global commodities trader Trafigura and U.S. data analytics company Palantir Technologies have unveiled a platform to calculate supply-chain emissions of the energy sector. The Agora for Energy...

Oil Market Updates: While the market sees the fair price for oil at USD 72 to USD 88 per barrel, "the markets are probably a bit too relaxed," Ben Luckock, co-head of oil trading at Trafigura, told the APPEC conference in Singapore.

Top executives from the world’s largest commodity trading houses and major energy firms are joining analysts at the biggest Asian industry event this

Guvnor believes that oil prices could fall back to the $71-$72 per barrel threshold over the next six months.