This site uses cookies - read more here. By continuing to use our website without changing the settings, you are agreeing to our use of cookies.

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.

Share
TwitCount

Daily (15.04.2019): Brent crude climbed by 1% on upbeat Chinese economic data and tight global supply

15/04/2019 11:24:00

Oil prices added gains on Friday following a recovery in Chinese exports last month. The rising U.S. and euro zone bond yields to three-week highs and German growth forecasts also supported prices. Furthermore, involuntary cuts in Venezuela supply and Iran signaled another lift in prices. Brent crude hiked by 1% to $71.55 a barrel , while WTI futures rose by 0.5% to $63.89 a barrel.

<READ MORE

Novovoronezh II-2 cleared for launch

15/04/2019 09:03:00

Unit 2 of the Novovoronezh II nuclear power plant in southwest Russia started the process of physical launch yesterday after having received regulatory approval to do so, Rosenergoatom, the operator subsidiary of state nuclear corporation Rosatom, has announced. The VVER-1200 reactor was brought to the minimum controlled power level on 22 March.

READ MORE

Hungary Offers to Buy 25% of LNG Terminal on Krk

15/04/2019 08:59:00

The Hungarian government has made an offer to buy 25 percent of a LNG terminal that is to be built in Croatia, Hungarian Foreign Minister Peter Szijjarto told journalists in Dubrovnik on Friday, according to MTI news agency.

READ MORE