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

news

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 (20.05.2019): NBP spot price slumped by 7.5% on Friday amid system oversupply

20/05/2019 11:11:00

Oil prices lost momentum on Friday, weighed by persistent concerns over a weakening demand because of the stalemate in the U.S.-China trade negotiations. However, the decline in the Iranian and Russian exports along with reduced shipments from the North Sea capped losses. As a result, Brent crude retreated by 0.6% to 72.21 USD/bbl. In the meantime, WTI Crude price slipped by 0.2% to 62.76 USD/bbl.

<READ MORE

Alpiq sells two Czech coal-fired power plants to Sev.en Energy

20/05/2019 09:19:00

Swiss company Alpiq has agreed to sell its two coal-fired power plants in the Czech Republic to Sev.en Energy Group for nearly $307.15m (€280m).

READ MORE

Gazprom makes huge Siberian gas discovery

20/05/2019 09:16:00

Russia's state-owned Gazprom Friday announced a 17-trillion-cubic-foot gas discovery in Siberia, Kallanish Energy reports.

READ MORE