Daily (07.11.2018): Oil prices fell on Tuesday, on worries over global demand and Iran sanctions waivers

07/11/2018 13:37 Daily


Oil prices shed on Tuesday, as Iran stated it had been able to sell as much oil as it needed to sell, despite sanctions imposed a day earlier. On the other side, increased concerns over global oil demand amid trade war between the world’s biggest economies also put pressure on prices. Accordingly, Brent crude decreased by 1.4% to $72.13 a barrel, settling at 8-month lows. WTI crude was at $62.21 a barrel, losing 1.4% comparing to its previous settlement.

UK gas contracts were slightly bullish on Tuesday, on forecasts for cooler weather. The NBP day-ahead gas contract was 0.4% up at 60.5 p/therm. Further on the curve, prices were quite stable. The 2019-delivery contract price edged higher at 60.02 p/therm.


European spot power prices for day-ahead delivery were bearish on Tuesday, due to higher wind generation and weaker demand. The baseload price for day-ahead delivery in Germany tumbled by 4.3% to 56.01 euros/MWh. At the same time, the French spot electricity contract traded 5% down at 57.26 euros/MWh.


Along the forward curve, electricity prices were steady, following the upward trend in carbon and gas markets.  Both German and French power contracts for 2019 delivery were almost constant, closing at 49.51 euros/MWh and at 53.7 euros/MWh respectively.


The prices for European carbon contracts continued to rise on Tuesday, in a tight session after reaching several technical levels. The 2020-expiry carbon contract traded 2.3% higher at 18.41 euros a tonne.

Daily (09.11.2018): Carbon prices gained 25% week-on-week to settle around the €20-level on Thursday in a tight session

09/11/2018 11:17:00

Oil futures continued the bearish run on Thursday, on worries about global oversupply due to trade war between US and China, the world’s biggest economies. OPEC members stated that a reduction in outputs might be required. Brent crude significantly dropped by 2% to $70.65 a barrel. WTI crude also lost 1.6% to settle at $60.67 a barrel.


Asia overtakes Europe as Russian Rosneft's main export market

09/11/2018 10:04:00

Russian oil major Rosneft is sending half its oil production to Asia


Turkey calls bids for 1 GW of onshore wind

09/11/2018 09:54:00

The Turkish Ministry of Energy and Natural Resources has issued a tender for 1 GW of onshore wind power capacity, with a bidding cap of USD 0.055 per kWh (EUR 0.048).