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 (13.06.2019): WTI futures lost 4% on Wednesday, due to rising crude inventories and weaker demand outlook

13/06/2019 10:53:00

Crude oil prices tumbled on Wednesday, amid higher U.S. crude inventories and poorer demand outlook. US-China trade negotiation also weighed on prices. As a result, Brent crude plunged by 3.7% to $59.97 a barrel, while WTI futures lost 4% to settle at $51.14 a barrel.

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Norway powers up its largest onshore wind farm

13/06/2019 09:08:00

A 255.6MW onshore wind farm claimed to be the largest in Norway is now up and running.

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Azerbaijan’s natgas exports up by 28%

13/06/2019 09:04:00

Azerbaijan’s natural gas exports showed a 28 percent increase year-on-year rising from 8.030 billion standard cubic meters in 2017 to 10.276 billion standard cubic meters in 2018, Trend reports citing OPEC Annual Statistical Bulletin.

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