Daily (10.01.2019): WTI crude jumped by over 5% on U.S.-China trade negotiations optimism

10/01/2019 11:53 Daily

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Oil prices soared on Wednesday on optimism that the U.S.-China trade talks extended into the extra third day could ease tensions. The ongoing crude output cuts by OPEC, aimed at reducing an emerging glut, also supported prices. Brent crude rose sharply by 4.7% to $61.44 a barrel, while WTI futures surged by 5.2% to $52.36 a barrel.

British gas prices dropped on Wednesday due to an oversupplied system as flows from Norway and Belgium increased. The expected LNG deliveries and storage withdrawals added to the bearish sentiment. NBP spot sank by 1.9% to 58.10 p/therm, while the NBP contract for summer 2019 delivery traded 2% lower at 52.40 p/therm.

 

European spot electricity prices spiked on Wednesday. The continuous decline in wind output and the falling temperatures lifted the demand for power in Germany. The benchmark German electricity contract traded 69.2% higher at 67.67 EUR/MWh. The equivalent French power price jumped by around 20% to 69.23 EUR/MWh, due to lower temperatures and stronger demand.

 

Along the forward curve, European electricity prices edged slightly lower in response to weaker carbon markets. German electricity contract for delivery in 2020 closed 1.2% lower at 47.97 EUR/MWh. The equivalent French contract fell 1% to 51.13 EUR/MWh.

 

European carbon restarted the downtrend on Wednesday, despite supply shortage. The 2020-expiry contract price dipped by 3.5% at 22.51 euros a tonne.

Daily (15.01.2019): Brent crude dipped by 2.5% on weak China import-export data

15/01/2019 11:38:00

Oil prices dropped on Monday as China reported weakening import-export data, which added to persistent concerns about a global growth slowdown. Brent crude plunged by 2.5% to $58.99 a barrel, despite support from OPEC-led output cuts. WTI futures slumped by around 2% to settle at $50.51 a barrel.

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SSE completes £970m Caithness-Moray transmission project in Scotland

15/01/2019 09:31:00

The company said that its subsidiary Scottish and Southern Electricity Networks Transmission (SSEN Transmission) completed the construction, commissioning and energization of the Caithness-Moray project on time and within the allowance approved by Ofgem.

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Importers hike the price of Russian gas in Romania

15/01/2019 09:28:00

WIEE, a company that imports Russian natural gas to Romania, notified its customers about a 2% price hike effective January 1, 2019, local Economica.net reported.

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