Daily (12.01.2018): Oil prices at 3-year peaks on Thursday due to U.S. tightening supply

12/01/2018 10:45 Daily

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Oil prices settled at three-year highs on Thursday on signs of tightening supply in the United States. 

Brent crude futures ended 6 cents higher at $69.26 a barrel, after hitting $70.05 a barrel during the session, its highest level since November 2014. Brent has gained 5 percent since the beginning of the year. Brent has gained 5 percent since the start of the year, picking up from its late-year surge. 

 

U.S. West Texas Intermediate (WTI) crude futures settled at $63.80 a barrel, up 23 cents, the highest since December 2014.

 

 

British wholesale gas prices increased on Thursday as flows from Norway stay close to pipeline maximum capacity and are likely to remain at that level excluding any unplanned outages. NBP day-ahead gas price dropped by 0.70 pence, or 1.3%, to 53.30 p/therm. February 2018 contract traded 0.7% down at 54.38 p/therm.

 

European wholesale power prices dropped on Thursday on forecasts for warmer weather and more wind supply. The German baseload electricity contract for Friday delivery lost 12.3 percent to 41.88 euros/MWh. The equivalent French contract was down 7.6 percent at 44.41 euros/MWh.


Along the more distant curve, German Cal’ 19 power contract traded 1% lower at 35.8 euros. The equivalent French year-ahead contract ended 0.8% down at 40.77 euro/MWh.


EU carbon prices edged lower on Thursday despite an earlier spike after the day’s auction cleared hugely above market. The carbon contract expiring in 2019 closed 0.9% down at 7.87 euros a tonne.

Daily (13.08.2018): Oil prices rose on Friday, but posted weekly declines due to global trade disputes

13/08/2018 13:25:00

Oil crude prices surged on Friday, on predictions of lower supply following U.S. sanctions against Iran. Brent crude closed 1% higher at $72.81 a barrel. Meanwhile, WTI crude soared by 1.2% to end at 67.63% a barrel, posting nevertheless a 1.2% decline week-on-week, on global trade disputes that might slow economic growth and reduce demand for energy.

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Russia agrees with four nations to divide resources beneath Caspian Sea

13/08/2018 09:14:00

Iranian President Hassan Rouhani, Azeri President Ilham Aliyev, Kazakh President Nursultan Nazarbayev, Russian President Vladimir Putin and Turkmen President Kurbanguly Berdymukhamedov walk on the embankment of the Caspian Sea following the Fifth Caspian Summit in Aktau, Kazakhstan August 12, 2018.

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Nord Stream 2 natural gas pipeline offers 'alternative route' to Danish authorities

13/08/2018 09:08:00

Nord Stream 2 AG has handed in an application and an Environmental Impact Assessment report to the Danish Energy Agency for an alternative route for the 55 Bcm/year twin natural gas pipeline delivering Russian gas to Germany, the company said in a statement.

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