Daily (04.02.2019): Oil prices rose by 1.4% on Friday, amidst bullish U.S. jobs data and sanctions on Venezuelan exports

04/02/2019 11:32 Daily

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Oil prices inched up on Friday as U.S. data showed upbeat job growth figures. At the same time, U.S sanctions on Venezuelan oil exports and news that oil drillers will cut production also supported prices. Brent crude rose by 1.4% to 62.75 USD/bbl, while WTI crude hiked by 2.7% to settle at 55.26 USD/bbl.

An oversupplied system and slightly milder weather forecasts have put pressure on British wholesale gas prices on Friday. NBP spot price slumped by 3.1% to 51.55 p/therm, while the contract for March 2019 delivery traded 2.8% lower at 50.07 p/therm.

 

European spot electricity prices resumed the bearish trend on Friday on robust thermal and renewable power supply that reduced demand. The German day-ahead power price plunged by 9.5% to 50.19 EUR/MWh, while the equivalent French contract traded 15.6% lower at 50.21 EUR/MWh, despite colder weather forecasts.

 

Further along the curve, prices were rather constant. The German power contract for delivery in 2020 traded 0.5% higher at 49.03 EUR/MWh. Meanwhile, the equivalent French contract was almost flat at 51.52 EUR/MWh.

 

EU carbon prices lost ground on Friday due to weak fundamentals and sluggish trading activity. The price for the 2021-expiry contract was 1.5% down at 22.92 EUR/tonne.

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Daily (16.08.2019): EU carbon prices at a new 5-week low on Thursday, due to speculative selling, Brexit fears and a weak macroeconomic context

16/08/2019 11:26:00

Intensifying recession fears spurred by downbeat economic data in Europe and China dragged the crude oil prices lower on Thursday. China’s warning about potential countermeasures in response to the latest U.S. tariff on Chinese goods also weighed on the market. Moreover, the rise in the U.S. crude inventories, extended unexpectedly into the second week, added pressure on crude prices. Under such circumstances, Brent crude dropped by 2.1% to $58.23 a barrel, while WTI futures lost 1.4% to trade at $54.47 a barrel.

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Germany's E.on plans 440-MW wind park in Texas

16/08/2019 08:41:00

A week after opening a 201-MW wind park in Texas, German utility E.on SE announced it will build an even larger one in the Lone Star State.

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