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Daily (17.09.2019): Oil prices jumped by nearly 15% following the attacks on Saudi oil facilities

Crude oil prices posted its biggest daily gain in over 30 years, following the attack on Aramco crude facilities which led to a in cut Saudi Arabia’s production and intensified concerns of retaliation in the Middle East. According to the news, Aramco may take months to resume normal output volumes. As a result, Brent crude surged by 14.7% to $69.02 a barrel, while WTI futures hiked by 14.6% to $62.90 a barrel.

read more... 17/09/2019

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Belgian capacity market will lead to oversupply – Anode

Belgium’s plans to launch a capacity market could lead to an oversupplied system, which will hurt profitability for new and existing power plants, said Anode Energie portfolio manager Kris Voorspools.

read more... 17/09/2019

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Ofgem gives conditional nod to 220-MW Scottish interconnector plan

UK energy regulator Ofgem said today it has given the thumbs-up to the construction of a 220-MW high-voltage transmission line that will connect the Orkney Islands with the Scottish mainland.

read more... 17/09/2019

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BP awards key contracts for $6 billion worth Caspian Sea project

BP, as operator of the Azeri-Chirag-Deepwater Gunashli (ACG) field development, has awarded key contracts for the the Azeri-Central-East (ACE) project located in the Azerbaijan’s sector of the Caspian Sea. Some of the construction activities have already started and will run through mid-2022.

read more... 17/09/2019

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Daily (16.09.2019): NBP spot soared by over 13% on Friday amid higher demand after official order to cut Gazprom’s flows

Crude oil prices traded lower on Friday, amid worries over global economic slowdown and thinner oil demand. WTI futures fell by 0.4% to $54.85 a barrel, while Brent crude edged 0.3% down at $60.22 a barrel, heading for the first weekly fall in three and five weeks respectively. Nevertheless, crude prices are expected to spike after a drone attack on two Saudi Aramco oil facilities on Saturday, which slashed by 50% Saudi Arabia’s oil output, or the equivalent of 5% in the global oil supply.

read more... 16/09/2019

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