Daily (08.02.2019): WTI crude tumbled by 2.5% on Thursday, due to rising U.S. crude production and inventories

08/02/2019 10:51 Daily

news

Oil prices retreated on Thursday, amidst rising U.S. crude inventories and upbeat production levels. However, Washington sanctions against Venezuela and OPEC supply cuts supported the markets. As a result, Brent crude dipped by 1.7% to 61.63 USD/bbl, while WTI crude plunged by 2.5% to 52.64 USD/bbl.

British wholesale gas prices lost ground on Thursday, pressured by the expectations of a stronger output from the country’s wind farms. NBP spot price dropped by 1.6% to 49.85 p/therm, while the contract for March 2019 delivery edged 0.1% lower at 49.81 p/therm.

 

European spot power prices resumed their bearish trend on Thursday, amidst stronger wind supply estimates and milder weather forecasts.The French day-ahead power price fell by 1.7% to 47.39 EUR/MWh, whereas the equivalent German contract tumbled by 6.6% to 41.62 EUR/MWh.

 

Further along the curve, the German power contract for delivery in 2020 traded 1.3% lower at 49.06 EUR/MWh, while the equivalent French contract declined by 0.8% to 51.80 EUR/MWh.

 

European carbon prices slipped on Thursday tracking lower energy commodities. The price for the 2021-expiry contract edged 0.9% lower at 24.42 EUR/tonne.

Daily (21.08.2019): NBP Sep19 price jumped by almost 5% due to an outage at the Culzean gas field

21/08/2019 11:38:00

Crude oil prices were rather steady on Tuesday. Brent crude inched up by 0.5% to $60.03 as tensions between U.S. and China eased. However, WTI futures dropped by 0.1% to 56.13 amidst continued concerns over global demand.

<READ MORE

Moldova seeks importing Russian gas through the Turkish Stream gas pipeline

21/08/2019 08:45:00

The Moldovan government is interested in importing Russian gas through the TurkStream pipeline and has discussed the issue with Gazprom officials, the country's Economy Minister Vadim Brinzan said today.

READ MORE

Bulgaria's HPP Chaira extends unplanned outage of unit

21/08/2019 08:42:00

Bulgarian pumped-storage hydro power plant (HPP) Chaira has extended the unplanned outage of one of its units by three days to August 23, the Independent Bulgarian Energy Exchange (IBEX) said on Tuesday.

READ MORE