Daily (12.03.2018): WTI crude surged by 3.2% on Friday due to strong US jobs data

12/03/2018 13:51 Daily

news

Oil prices increased on Friday recovering from two days of declines due to strong US jobs data and investors’ hopes that the scheduled meeting between U.S. President Trump and North Korea’s Kim Jong Un would reduce geopolitical tensions.

Brent crude futures surged by $1.88 to settle at $65.49 a barrel, gaining around 3%. U.S. West Texas Intermediate (WTI) crude futures soared by $1.92, or 3.2 percent, to end at $62.04 per barrel.

 

British wholesale gas prices rose on Friday, due to colder weather forecasts in late March and worries over low storage levels after last week’s increased demand. UK day-ahead gas price jumped by 3.3% to close at 53.50 p/therm. June 2018 delivery contract ended 1.7% up at 43.31 p/therm.

 

European prompt power prices decreased on Friday due to higher temperatures and weaker demand.  Germany’s baseload price for day-ahead delivery slumped by 6.3% to 34.76 euros a megawatt hour (MWh). The French equivalent contract traded 20.2% down at 34.18 euros.

 

On the year-ahead curve, Germany’s baseload price for 2019 delivery edged 0.8% up at 34.95 euros/MWh. The same French contract increased by 0.2% to 39.80 euros/MWh.

 

EU carbon prices closed flat on Friday as a mixed auction led to a brief decline below €11. The carbon contract expiring in 2019 was constant at 11.18 euros a tonne.

Daily (18.10.2018): WTI crude dropped by 3% on Wednesday due to a jump in US stockpiles

18/10/2018 11:18:00

Oil crude prices fell on Wednesday as the U.S. Energy Department's Energy Information Administration revealed a higher-than-expected build in U.S. crude inventories, offsetting concerns about diplomatic relations with Saudi Arabia. Therefore, Brent crude price traded 1.7% lower to settle at $80.05 a barrel. WTI crude price plunged 3% down to settle at $69.75 a barrel.

<READ MORE

North Sea leading global offshore wind power generation

18/10/2018 09:27:00

The North Sea now accounts for 90% of all global offshore wind power generation, but will soon face a challenge from China, it has emerged.

READ MORE

Shell to sell upstream business in Denmark for $1.9bn

18/10/2018 09:21:00

Royal Dutch Shell, through its affiliate Shell Overseas Holdings, has reached an agreement with Norwegian Energy Company ASA (Noreco) to sell its shares in Shell Olie-og Gasudvinding Danmark B.V. (SOGU) for $1.9 billion.

READ MORE