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 (20.08.2019): Brent crude surged by around 2% on Monday on worries about global oil supplies

20/08/2019 11:19:00

Crude oil prices rose on Monday after Yemen’s Houthi forces used a drone to attack an oilfield in eastern Saudi Arabia on Saturday, threatening global oil supplies. Brent crude added $1.1, or 1.9% to settle at $59.74 a barrel. WTI futures gained $1.34, or 2.4% to end at $56.21 a barrel.

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EBRD Finances Private-to-Private Solar Project in Jordan

20/08/2019 08:25:00

The European Bank for Reconstruction and Development together with its partners is supporting a pioneering energy project in Jordan with a financial package of up to $35 million. The project will enable the telecom operator Orange Jordan to cover part of its demand with clean energy generated in solar plants.

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Belene project attracts five expressions of interest

20/08/2019 08:21:00

Five companies have expressed interest in Bulgaria’s invitation for strategic investment in the construction of Belene nuclear power plant on the Danube River near the Romanian border. According to national newspaper 24 Chasa, China National Nuclear Corporation, Framatome, General Electric, Korea Hydro and Nuclear Power and Rosatom have all applied for the selection process.

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