Daily (02.08.2019): Oil prices plunged by over 7% on Thursday, as Donald Trump announced an extra 10% tariff on Chinese goods

02/08/2019 11:23 Daily

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Crude oil prices plummeted on Thursday to its lowest levels in about seven weeks, as U.S. President Donald Trump plans to implement an additional 10% tariff on Chinese imports from the September 1 of this year. Consequently, Brent crude traded 7.2% lower at $60.50 a barrel, while WTI futures declined by 7.9% to $53.95 a barrel.

British gas prices added ground on Thursday, due to maintenance works at several U.K gas sites, which could eventually reduce flows into the systems. NBP spot climbed by 10.3% for the day, closing at 31.50 p/therm. On the curve, the contract for delivery in Q4 2019 traded 5.2% higher at 47.20 p/therm.

 

European prompt power prices were down on Thursday as demand for power eased ahead of the weekend. The price for the German day-ahead power contract fell by 2.2% to 43.70 EUR/MWh. At the same time, the equivalent French contract settled 1.6% lower at 41.31 EUR/MWh, on modest wind and solar output.

 

Meanwhile, forward electricity prices added momentum tracking higher gas and carbon prices. The price for the German power contract for delivery in 2020 surged by 2% to 52.25 EUR/MWh, while the equivalent French contract traded 1.8% higher at 53.42 EUR/MWh.

 

EU carbon prices soared on Tuesday, as traders engage in buying positions ahead a month of limited auction volumes. As a result, the price for the 2021-expiry contract traded 5% higher at 30.29 EUR/tonne.

Daily (30.07.2020): European CO2 prices rebounded by nearly 2% on Wednesday tracking a stronger auction in Poland.

30/07/2020 13:19:00

Crude oil prices inched higher on Wednesday, following an unexpected drop in US crude inventories. Consequently, Brent crude rose by 1.2% to $43.75 a barrel, while WTI futures increased by 0.6% to $41.27 a barrel.

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Eneco, Shell win Dutch offshore wind tender with 759-MW project

30/07/2020 10:56:00

A joint venture between Dutch utility Eneco and oil and gas major Royal Dutch Shell Plc has won the tender for the third zero-subsidy offshore wind farm in the Dutch North Sea, to be built in the Hollandse Kust Noord zone.

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Assembly of world’s largest nuclear fusion reactor begins in France

30/07/2020 10:49:00

A total of 35 nations are currently collaborating to build tokamak, a magnetic fusion device, which aims to demonstrate the real potential of fusion as a large scale carbon-free source of energy

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