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

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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 (15.02.2019): EU carbon prices slumped by around 6% to hit again a 2-month low on Thursday

15/02/2019 11:38:00

Oil prices surged on Thursday, backed by OPEC-led supply cuts and expectations for a potential end to the U.S.-China trade talks. Brent oil extended a three-day winning streak, posting a 1.5% daily gain to settle at $64.57 a barrel. WTI crude rose less, by nearly 1% to $54.41 a barrel, as gains were limited by the lowest U.S. retail spending data since 2009 which raised worries over slower global economic growth.

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BP-AKR plans to have 350 fuel stations by 2028

15/02/2019 09:31:00

Publicly listed fuel trader PT AKR Corporindo and British oil and gas company BP have already opened four fuel stations in Indonesia under a joint venture established by the companies. By 2028, they hope to raise the number of stations to 350.

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EnBW, Energiekontor sign PPA for 85-MW solar park in Germany

15/02/2019 09:25:00

German utility EnBW Energie Baden-Wuerttemberg AG (ETR:EBK) has signed a 15-year power purchase agreement (PPA) for the output of a 85-MW solar park in northeastern Germany that will be built by project developer Energiekontor AG (ETR:EKT).

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