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 (10.12.2019): German spot electricity price soars 61% on Monday on lower wind output

10/12/2019 10:43:00

Crude oil prices lost ground on Monday as exports from China shrank for a fourth straight month, escalating concerns about U.S.-China trade war over the global economy. Brent crude eased 14 cents, or 0.2%, to settle at $64.25 per barrel, after a gain of about 3% last week on news that OPEC+ would deepen output cuts. WTI crude oil lost 18 cents, or 0.3% to close at $59.02 a barrel on NYMEX.

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EDF clean power tops 2GW in France

10/12/2019 09:19:00

EDF Renouvelables has reached the 2GW milestone for wind and solar capacity in France, following a record year for onshore wind for the company in the country.

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Poland's PGNiG and Ukraine's ERU team up on gas exploration

10/12/2019 09:27:00

Poland’s leading gas firm, state-run PGNiG, said on Monday it agreed a deal with Ukraine’s ERU Management Services to cooperate on hydrocarbon extraction and exploration in Ukraine.

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