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

12/09/2017 10:59 Daily


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.

252 chargers for electric vehicles until 2020 will be provided within NEXT-E project

20/11/2017 16:35:00

NEXT-E project will supply 222 fast (50 kW) and 30 ultra-fast (150-350 kW) chargers for electric vehicles for Czech Republic, Slovakia, Hungary, Slovenia, Croatia and Romania by the end of 2020, as reported by Balkan Green Energy News.


Luxembourg to become a European funding center for renewables

20/11/2017 16:21:00

At the COP23 summit held in Bonn, Luxembourg’s finance and environment ministers met directors of the European Investment Bank to discuss about the institution of a de-risking mechanism to allow the financial backing of ecologically-friendly projects. Luxembourg is a very small country but releases a big amount of emissions and wants to become less polluting.


UK Embassy launches solar power unit in Peru

20/11/2017 11:05:00

A solar project backed by the UK has been officially launched in Peru.