Daily (11.04.2019): The EU carbon prices hit a new 11-year high on Wednesday on Brexit delay optimism

11/04/2019 10:19 Daily

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Crude oil prices increased on Wednesday, after EIA report showed that U.S. gasoline stocks plunged more than expected last week, offsetting the surging crude inventories. OPEC’s oil production at four-year low in March coupled with U.S. sanctions on Iran and Venezuela lent more support to prices. Brent crude price rose by 1.6% to $71.73 a barrel, while WTI futures traded 1% up at $64.61 a barrel.

British wholesale gas prices reversed the strong earlier gains on Wednesday, ahead of five LNG cargoes to arrive in Britain by April 20. The NBP spot price slumped by 4.3% to 40.40 p/therm. In the meantime, the contract price for delivery in August 2019 tumbled by 4.6% to 41.58 p/therm. 

 

The European day-ahead electricity prices continued to climb on Wednesday, due to cold weather forecasts and consequently firmer demand. The German spot power price surged by 4.5% to 44.74 EUR/MWh, supported by a drop in wind generation. Meanwhile, the equivalent French contract traded at the same price as the German one, posting a 1.5% hike, amid lower nuclear availability and reduced hydropower supply due to a 24-hour strike.

 

Along the forward curve, power prices added ground on Wednesday, bolstered by hiking carbon prices. The German power contract for delivery in 2020 ended 3.9% higher at 51.34 EUR/MWh. The equivalent French contract price jumped by 3.7% to close at 54.44 EUR/MWh.

 

The European carbon prices extended gains on Wednesday, reaching a fresh 11-year high, on signs of a looming Brexit delay. The price for the 2020-expiry contract spiked by 2.3% to 26.43 EUR/tonne.

BSOG, partners get green light for development plan of two gas fields in Romania

16/04/2019 08:50:00

Romania-based Black Sea Oil & Gas (BSOG) and its co-venture parthers have received the approval of the country's National Agency for Mineral Resources of their field development plan (FDP) for the Ana and Doina natural gas fields, BSOG said on Monday.

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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.

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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.

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