Daily (12.09.2017): Increase in the U.S oil prices, as refineries restart operations

12/09/2017 10:59 Daily

news

Oil prices soared on Monday as most important U.S. refineries relaunched operations after Hurricane Harvey, which might help resuscitate crude oil processing. 

On the other side, fuel prices fell as Hurricane Irma could reduce demand for gasoline and diesel. Brent crude oil price settled 0.1% up at $53.84 a barrel, while U.S. West Texas Intermediate crude ended 1.2% higher at $48.07.

 

The possibility of a prolongation to the 15-month production agreement between members of the Organization of the Petroleum Exporting Countries and non-OPEC producers also encouraged prices, according to traders.


Reduced gas flows from Norway to the UK led to a surge in the British wholesale gas prices on Monday. Day-ahead gas price was 0.4% up at 46.15 p/therm. Further along the curve, the contract for next season delivery traded 1.9% higher at 51.16 p/therm.


Higher wind power output levels drove up supply and reduced the prices or maintained almost constant the spot positions in the European wholesale electricity market on Monday. Germany's day-ahead baseload power contract decreased by 8.5% to 29.43 euros/MWh, while the equivalent French contract was almost unchanged at 33.47 euros/MWh in the interconnected region. 


Power prices for year-ahead delivery traded higher in the European wholesale market on Monday afternoon on predictions of lower generation output from wind turbines. The electricity contract for delivery in 2018 in Germany was up 0.2% at 35.09 euros /MWh, while the same contract in France gained 0.3% to close at 41.69 euros/MWh.


European carbon prices slumped for the first time in more than a week amid choppy trade and on worried over ETS Brexit protections. December 2019 expiry EU carbon allowances traded 2.5% lower at 6.99 euros a tonne.
 

Daily(13.07.2018): NBP spot price fell by 2.5% on Thursday due to expectations for lower demand

13/07/2018 11:21:00

Oil prices were mixed on Thursday, spurred by news that the U.S. market has been undersupplied due to the loss of some Canadian oil production. Brent crude surged by 1.4% to $74.45 a barrel. Meanwhile, WTI crude edged 0.1% lower at $70.33 a barrel, as inventories at the Cushing delivery hub had fallen by almost 1M barrels.

<READ MORE

Siemens shines for Vietnam solar

13/07/2018 09:38:00

Siemens has won an electrical balance of plant contract to supply systems to Trung Nam Group for a 258MW solar farm in Vietnam.

READ MORE

Savannah makes oil discovery at Kunama-1 exploration well in Niger

13/07/2018 09:13:00

The oil find at the Kunama-1 well, which was drilled by the GW 215 Rig to a total measured depth of 2,460m, marks the firm’s third consecutive discovery in its maiden exploration campaign in the R3 portion of the R3/R4 PSC Area in ARB.

READ MORE