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.

Mochovce 3 completes commissioning test

17/04/2019 08:48:00

Slovakia's new reactor Mochovce 3 has successfully completed hot testing. Owner Slovenské Elektrárne (SE) said the plant could be ready for fuel loading this summer, although it will then have to wait for regulatory approval which could take up to eight months.

<READ MORE

German 385MW offshore wind farm officially opened

17/04/2019 08:46:00

German Chancellor Angela Merkel and Norwegian Energy Minister Kjell-Børge Freiberg have officially opened the 385MW Arkona offshore wind farm in the Baltic Sea.

READ MORE

Daily (16.04.2019): NBP spot plunged by 6.9% on Monday, on milder weather forecasts and new LNG arrivals

16/04/2019 10:34:00

Oil prices reversed trend registering losses on Monday, after having hit recently a five-month high, on signals that Russia could boost production to strengthen its position on the market. Brent crude edged 0.5% lower at $71.18 a barrel, while WTI Crude dropped by 0.8% to $63.40 a barrel.

READ MORE