Daily (12.03.2018): WTI crude surged by 3.2% on Friday due to strong US jobs data

12/03/2018 13:51 Daily

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Oil prices increased on Friday recovering from two days of declines due to strong US jobs data and investors’ hopes that the scheduled meeting between U.S. President Trump and North Korea’s Kim Jong Un would reduce geopolitical tensions.

Brent crude futures surged by $1.88 to settle at $65.49 a barrel, gaining around 3%. U.S. West Texas Intermediate (WTI) crude futures soared by $1.92, or 3.2 percent, to end at $62.04 per barrel.

 

British wholesale gas prices rose on Friday, due to colder weather forecasts in late March and worries over low storage levels after last week’s increased demand. UK day-ahead gas price jumped by 3.3% to close at 53.50 p/therm. June 2018 delivery contract ended 1.7% up at 43.31 p/therm.

 

European prompt power prices decreased on Friday due to higher temperatures and weaker demand.  Germany’s baseload price for day-ahead delivery slumped by 6.3% to 34.76 euros a megawatt hour (MWh). The French equivalent contract traded 20.2% down at 34.18 euros.

 

On the year-ahead curve, Germany’s baseload price for 2019 delivery edged 0.8% up at 34.95 euros/MWh. The same French contract increased by 0.2% to 39.80 euros/MWh.

 

EU carbon prices closed flat on Friday as a mixed auction led to a brief decline below €11. The carbon contract expiring in 2019 was constant at 11.18 euros a tonne.

Daily (17.07.2018): Brent crude price slumped by more than 4% on Monday, as Libyan ports relaunched

17/07/2018 12:01:00

Oil prices plummeted on Monday, as ports in Libya resumed their activity and traders count on a boost in supply from Russia and other producers. Brent crude tumbled by 4.6% to $71.84 a barrel, its lowest level since the middle of April. Meanwhile, WTI crude slumped by 4.2% to end at $68.06 a barrel.

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Ireland becomes world’s first nation to divest from fossil fuels

17/07/2018 09:53:00

Ireland has voted to become the first country in the world to divest from fossil fuels.

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Gazprom to commence development of Kharasaveyskoye field in 2019

17/07/2018 09:23:00

Russian firm Gazprom is planning to commence the full-scale development of the Kharasaveyskoye field located north of Bovanenkovskoye in the Yamal Peninsula, in 2019.

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