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Daily (19.07.2019): NBP spot slumped by 4% on Thursday, due to increased supply and weak demand

Crude oil prices continued their downward evolution on Thursday, influenced by lower U.S. equities markets. Prices were also weighed by an expected rise in the U.S. offshore oil output, as platforms have been returning to service after the Hurricane Barry passed through the Gulf of Mexico last week. Brent crude sank by 2.7% to $61.93 a barrel, while WTI futures dipped by 2.6% to $55.30 a barrel.

read more... 19/07/2019

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German coal imports could fall 10% in 2019 in face of rising renewable power

Germany’s hard coal imports may fall for the fourth year in a row this year and by around 10% from 2018 levels, importers’ group VDKi forecast on Thursday, citing competition from renewable energy and slack demand from steelmakers.

read more... 19/07/2019

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Daily (15.07.2019): NBP spot surged by 4.7% on Friday, due to rising gas-for-power demand ahead of an expected 3-day hot spell

Crude oil prices slightly rose on Friday, after a tropical storm in the Gulf of Mexico caused disruptions in the local production, while tensions between Iran and the West continued to mount. Consequently, Brent crude traded 0.3% higher at $66.72 a barrel. However, forecasts for a global oil supply glut from the International Energy Agency and OPEC limited the gains, with WTI futures remaining almost flat at $60.21 a barrel.

read more... 15/07/2019

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Daily (09.07.2019): European spot power prices rose by over 20% on Monday, due to low wind supply and tight nuclear capacity

Crude oil prices steadied on Monday as Iran’s nuclear program offset worries about global oil demand growth. As a result, Brent crude dropped by 0.2% to $64.11 a barrel, while WTI futures added 0.3% to settle at $57.66 a barrel.

read more... 09/07/2019

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Daily (05.07.2019): EU carbon prices dropped by around 1.8% on Thursday in a weaker auction

Crude oil prices declined in a thin trading due to a public holiday in the U.S. on Thursday, influenced by a smaller-than-anticipated drop in the U.S. crude inventories. Concerns of a scarce demand stoked by weaker U.S. factory orders and slower business growth in Europe also weighed on prices. However, this week’s decision on the extension of OPEC+ output cuts limited losses. Against that background, Brent crude lost 0.8% to settle at $63.30 a barrel, while WTI futures ended 0.9% lower at $56.80 a barrel.

read more... 05/07/2019

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