Daily (04.12.2018): Brent crude hiked by 5.1% on Monday, as US-China trade war tensions eased

04/12/2018 11:58 Daily

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Oil prices jumped on Monday, after Qatar decided to quit the OPEC club in January 2019. Furthermore, US-China trade tensions eased as no additional tariffs will be imposed during a period of 90-days. Expectations for OPEC supply reduction also stimulated prices. Brent crude price increased by 5.1% to $61.69 a barrel. Meanwhile, WTI crude gained 4% to $52.95 a barrel. 

The upward trend in UK gas prices on Monday was caused by an undersupplied system due to reduced flows from Norway. The January 2019 delivery contract was 1.8% higher at 68.77 p/therm. Moreover, stronger demand for heating because of lower temperatures forecasts and higher demand from power generators due to reduced wind production boosted the spot price. NBP day-ahead gas price rose 4.6% to 66.15 p/therm. 

 

European spot power prices for day-ahead delivery were bullish on Monday, due to weaker wind generation and increased demand because of cooler weather. The baseload price for day-ahead delivery in Germany added 8.1% to 50.65 euros/MWh. Meanwhile, the French spot electricity contract ended 4% higher at 58.44 euros/MWh, as nuclear power production in France remains stable. 

 

Further along the electricity curve, year-ahead prices continued to rise. The German contract for 2019 delivery settled at 52.97 euros/MWh, or around 1.3% higher. In the meantime, the French equivalent contract was 1% up at 58.44 euros/MWh. 

 

Carbon contracts gained more ground on Monday, hitting new highs near the 21-euro level amidst a bullish energy complex. The price for the contract expiring in 2020 soared by 0.8% to settle at 21.55 euros a tonne.

UK-Belgium power link launched

06/12/2018 08:58:00

The Nemo subsea power interconnector that links the UK and Belgium has officially been launched.

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Daily (05.12.2018): NBP spot price dropped by 3.3% on Tuesday due to warmer weather and oversupply

05/12/2018 11:34:00

Oil prices gained further momentum on Tuesday, on expectations for supply shortages, a subject to be discussed at the meeting between the OPEC and Russia in Vienna on the 6th of December. Brent crude price traded 0.6% higher at $62.08 a barrel. At the same time, the cut in Canadian production in the efforts to help OPEC limit oversupply also boosted prices. WTI crude surged by 0.6% at $53.25 a barrel.

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Aquila secures financing for 147.6 MW of Swedish wind

05/12/2018 10:12:00

German lender HSH Nordbank and the Netherlands’ Cooperatieve Rabobank have provided project debt for Aquila Capital's 147.6-MW Thor wind farm in Sweden.

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