Daily (14.07.2017): Oil prices rose 1.4% on Thursday as world oil demand is picking up

14/07/2017 11:26 Daily

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Oil prices rose on Thursday as evidence that world oil demand is picking up, notably in the United States and China, the world's two biggest oil consumers. Growing demand is helping to drain a global fuel glut but the rebalancing of the oil market is taking longer than anticipated. Brent crude jumped by 1.42% settling at $48.42 a barrel, while the WTI price increased by 1.3% to $46.08 a barrel.

Prompt British wholesale gas prices fell on Thursday as demand for gas has dipped slightly due to expectations of strong output from the wind farms while an increase in imports from Norway left the market oversupplied, dampening prices. NBP spot contract tumbled by 1.27% to 33.42 p/therm. Further along the curve, most contracts rose by 0.1%-0.6%. Winter 2017 contract edged up by 0.48% at 44.31 p/therm.

 

Prices in the European wholesale power market continued to be mixed on Thursday. Germany's power price rose sharply in the European wholesale market as French nuclear supply looked tight in the interconnected marketplace. French demand was limited due to Bastille holiday on Friday. German spot power contract closed 8.68% higher at 36.81 euros/MWh, while French electricity price fell by almost 6% to end at 34.05 euros/MWh. Further along the curve, German Cal 2018 benchmark price slightly rose by 0.25% to settle at 31.49, euros/MWh, while French power contract for delivery in 2018 edged down by 3 cents to 37.06 euros/MWh.

 

EU carbon prices fell by more than 2.1% canceling out the previous session’s gains, but still holding above €5.40 level. The EUA Cal 2018 closed at 5.41 euros/ton, while the EUA 2019 settled at 5.49 euros/ton.

Vattenfall and Trafigura to sell gas to Ukraine’s Naftogaz

19/07/2017 10:39:00

Ukraine's Naftogaz intends to sign deals with two European companies, particularly Trafigura Trading, Sarl and Vattenfall Energy Trading GmbH, aiming the purchase of natural gas, as it seeks to divert from the Russian energy imports.

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Daily (19.07.2017): Oil prices jumped by 0.8% on Tuesday supported by strong demand from China

19/07/2017 09:51:00

Oil prices jumped on Tuesday, supported by strong demand from China. Nevertheless, many markets are well supplied and oil for prompt delivery is trading at heavy discounts to forward futures, consequently crude oil prices remain under pressure and trading volumes are quite low. Brent crude edged up by almost 0.9% to close at $48.84 a barrel, while WTI price rose by 0.83% to end at $46.40 a barrel.

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Iberdrola to enter Italy's retail electricity market by the end of the year

19/07/2017 08:12:00

Spanish utility Iberdrola will enter Italy's retail electricity market by the end of the year and is aiming 5-7 percent of the nation's over 37 million consumers, one of the group's top managers declared on Tuesday.

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