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Daily (12.08.2019): European spot power prices plummeted by nearly 70% on Friday due to a surge in renewables output

Oil prices continued to climb on Friday, in response to weaker Euroilstock data, which showed a decrease in the total crude and product inventories of 16 European countries in July. Prices also drew support from OPEC supply cuts and Saudi Arabia’s commitment to bring the oil market back to balance. Hence, Brent crude rose by 2% to $58.53 a barrel. Concurrently, WTI futures surged by 3.7% to $54.50 a barrel, on lower production growth forecasts after U.S. drillers slashed the active oil rig count for a sixth straight week.

read more... 12/08/2019

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Tullow makes first oil discovery on Orinduik license offshore Guyana

Tullow Oil has made an oil discovery at its Jethro-1 exploration well, drilled on the Orinduik license offshore Guyana.

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Akuo wins 370 MW in Portugal's PV tender with a record-low bid

French renewable power producer Akuo Energy SAS confirmed on Thursday it had been awarded 370 MW of solar photovoltaic (PV) capacity in Portugal’s recently held tender.

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Zeebrugge LNG schedules Yamal transshipment, Qatari cargoes

The Fluxys-operated Zeebrugge liquefied natural gas terminal in Belgium is set to receive a couple of Qatari cargoes and could accommodate a Yamal LNG cargo transshipment.

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Daily (09.08.2019): Oil prices rebounded by nearly 3% on Thursday, due to a firmer yuan and hopes for additional OPEC output cuts

Oil prices strengthened on Thursday, rebounding from an earlier low, after Saudi Arabia showed readiness to discuss with other producers about the recent slump in crude prices. The prospect of additional output cuts from OPEC, coupled with a steadying yuan, supported prices. As a result, Brent crude rose by 2.1% to $57.38 a barrel. At the same time, WTI futures spiked by 2.8% to $52.54 a barrel, boosted by a fall in inventories at Cushing, Oklahoma, in the week to August 6.

read more... 09/08/2019

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