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.

Daily (14.02.2019): Oil prices climbed by 1.8% on Wednesday, as Saudi Arabia plans to reduce crude exports and production

14/02/2019 12:16:00

Oil prices were bullish on Wednesday, after Saudi Arabia announced its plans to reduce crude exports and production. At the same time, rising U.S. crude inventories might still put pressure on the market. As a result, Brent crude increased by 1.9% to 63.61 USD/bbl. WTI crude rose by 1.5% to 53.90 USD/bbl.

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European consortium to buy 80% of Veja Mate offshore wind park

14/02/2019 10:10:00

A consortium led by asset manager Commerz Real AG and IKEA franchisee Ingka Group will acquire an 80% stake in the 402-MW Veja Mate offshore wind park in the German North Sea.

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Over 500 Agreements to be Signed at Russian Investment Forum

14/02/2019 09:55:00

Over 500 agreements worth a total of 800 billion roubles are expected to be signed at the Russian Investment Forum 2019. This preliminary estimate is based on the information from the Forum participants and from open sources.

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