Bord Gáis Energy Index fell 3% in September; Up 21% in 12 months
Oct 10th, 2011 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
The Bord Gáis Energy Index (BGEI) recorded an
increase in the price of both gas and coal for the month of September, however,
the overall index fell 3% to 135 in September 2011, asfears of a second global recession saw the price of Brent crude
oil tumble $12 per barrel over the course of the month. However, the fall in
oil prices was significantly offset in Europe by a 7% depreciation of the Euro
versus the US dollar, which resulted in a net 4% decline in oil prices in Euro
terms. Despite the drop, the
index is still 21% higher than it was in September 2010 when it stood at 111.