Daily (07.08.2018): Brent crude rose by 0.7% on Monday as OPEC data showed lack of supply

07/08/2018 13:21 Daily

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Oil crude prices hiked on Monday, due to sharp decline in Saudi crude outputs following the OPEC report. As concerns about the global oil supplies increased, Brent crude gained 0.7% to reach $73.75 a barrel. At the same time, WTI crude rose by 0.8% to $69.01 a barrel.

UK gas contracts were mixed on Monday. Lower wind generation and cooler weather were predicted, on one hand. On the other hand, flows through the Langeled were strong enough to lead to an oversupplied system, despite the sudden outage at the Vesterled pipeline. Consequently, NPB spot price slipped by 0.3% to 58.85 p/therm. Meanwhile, 2019 delivery contract gained 1.1% at 57.10 p/therm.

 

On Monday, European prompt power prices rose as hot weather led to higher demand, while the support from renewables was limited due to complex cooling process this time of the year.

 

The Germany baseload price for Tuesday delivery jumped by 26.50% to 64.68 euros/MWh. Furthermore, the French equivalent contract added 23.40% to reach 63.36 euros/MWh.

 

Along the forward curve, electricity prices edged higher. The German Cal’ 19 baseload electricity contract traded 1.1% higher at 45.11 euros/MWh, while the French equivalent contract ended 1% higher at 49.49 euros/MWh.

 

European carbon prices edged lower on Monday, but kept tight right below €18, after traders forecasted additional gains during this week. The 2021 expiry carbon contract closed 0.5% down to 18.86 euro a tonne.

Daily (13.08.2019): European carbon prices slumped by over 5% on Monday amid a weaker auction

13/08/2019 10:05:00

Oil prices remained bullish on Monday, on expectations for deeper cuts of global oil supplies that might counterbalance the slowing growth of global crude demand driven by the U.S.-China trade dispute. Brent crude traded 0.1% up at $58.57 a barrel. At the same time, the ongoing tensions between the U.S. and Iran, along with a weakening dollar, pushed the WTI futures 0.8% higher at $54.93 a barrel.

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Coal generation in Europe down 19% in 2019 as phase-outs take effect

13/08/2019 08:42:00

Coal generation in Europe dipped 19% over the first six months of 2019, according to Brussels-based think tank Sandbag.

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Wintershall Dea begun drilling 4 production wells on the Dvalin gas field in the Norwegian Sea

13/08/2019 08:36:00

Wintershall Dea reported today that it has begun drilling 4 production wells on the Dvalin gas field in the Norwegian Sea, getting ready for the start of production in 2020.

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