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Saudi energy minister concerned about oil price volatility

Saudi energy minister concerned about oil price volatility

World
Saudi Arabia's energy minister said Sunday that major oil producers need to do better to narrow swings in prices that dip below $ 60 a barrel and rise above $ 86. "I think what we need to do is narrow the range ... of volatility," Khalid al-Falih said. "We need to do better and the more producers that work with us, the better we're able" to do so, he told the Atlantic Council's Global Energy Forum in Abu Dhabi. Cautious not to set a price target or range, he explained there are consequences when oil prices dip too low or rise too high. Last month, OPEC countries, including Saudi Arabia, and other major oil producers agreed to cut production by 1.2 million barrels a day to reduce oversupply and boost prices for the first six months of 2019. Oil producers are under pressure to reduce produ...
Winter likely to finish off some energy firms, analysts say

Winter likely to finish off some energy firms, analysts say

Business
More small energy suppliers are likely to go bust this winter, analysts say, leading to potential disruption and higher costs for customers.Economy Energy was the latest to collapse earlier this month, following customer complaints about service including delayed bills and refunds.It followed a string of similar collapses and analysts say five or 10 more could go as winter costs rise.If so, domestic customers' supply is protected but their tariff is not.When an energy company ceases trading its customers are automatically transferred to a new supplier. Any credit they have, because they have used less energy than they paid, is carried over. Regulator Ofgem has announced that Ovo Energy will take on Economy Energy's 235,000 customers.However, in cases of t...
Cellular energy route finding may improve understanding of aging, chronic disease

Cellular energy route finding may improve understanding of aging, chronic disease

Health
Jan. 7 (UPI) -- Scientists have found a cellular route for energy that could shed more light on how humans age and develop chronic diseases. Researchers from the Washington University of St. Louis have uncovered a once unknown path for nicotinamide mononucleotide, or NMN, which helps fuel the human body, according to a new study published Monday in Nature Metabolism. "To achieve such fast uptake of NMN into the tissues, we speculated that there must be a specific NMN transporter that moves NMN directly into cells, even though no one had ever seen such a thing," Shin-ichiro Imai, a professor of developmental biology at Washington University, said in a news release. For this protein highway, the researchers found that cells must create a molecular transport system. First, NMN provides energ...
Energy price cap comes into force

Energy price cap comes into force

Business
A new energy price cap has now come into force - but householders can still get a better deal by shopping around, consumer groups say.Regulator Ofgem has estimated that the new cap will save 11 million people an average of £76 a year.Typically, the cap means that typical usage by a dual fuel customer paying by direct debit will cost no more than £1,137 a year.Consumer organisations say that people could save more by switching suppliers."The introduction of this cap will put an end to suppliers exploiting loyal customers. However, while people on default tariffs should now be paying a fairer price for their energy, they will still be better off if they shop around," said Gillian Guy, chief executive of Citizens Advice."People can also make long...