Daily (12.09.2018): Brent crude soared by 2.2% on Tuesday, due to stronger demand ahead of November sanctions

12/09/2018 11:34 Daily

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Strong demand pushed crude prices higher on Tuesday, because President Donald Trump announced that starting from November 4th Iranian crude buyers will stop their purchases. Accordingly, Brent crude traded 2.2% higher at $79.06 a barrel. Meanwhile, WTI crude price increased by 2.5% to $69.25 a barrel.

Recovered flows from one of the six main gas terminals, Easington, contributed to an oversupplied market, which led to a decline in the UK wholesale gas contract prices on Tuesday. Moreover, predictions for hot weather also pressured prices. NBP spot price fell by 2.3% to 75.20 p/therm. On the curve, Winter 2018 delivery contract closed 1.1% lower at 80.71 p/therm. 

 

On Tuesday, European prompt power prices soared, due to lower supply in Germany and tight nuclear availability in France. The German electricity price for Wednesday delivery jumped by 10.4% to 63.78 euros/MWh. Meanwhile, the French equivalent contract added 6.5% to reach 68.30 euros/MWh. 

 

Along the forward curve, power prices continued to gain ground. The German Cal’ 19 baseload electricity contract traded 0.3% higher at 56.90 euros/MWh, while the French equivalent contract ended 0.2% up at 62.58 euros/MWh.

 

European carbon contracts lost momentum on Tuesday, declining from the 10-year peak in a weaker auction. The price for the contract expiring in 2021 tumbled by 3.7% to settle at 25.71 euros a tonne.
 

Daily (14.01.2019): Oil prices down by around 2% on Friday on concerns over global economic growth

14/01/2019 11:57:00

Oil prices lost nearly 2% as the recent pessimistic economic data added to persisting worries about global economic growth. Nevertheless, oil markets posted gains on a weekly basis, due to OPEC-led output cuts and expectations for progress in U.S.-China trade talks. Brent crude fell by around 2% to $60.48 a barrel, while WTI futures settled about 2% down to $51.59 a barrel.

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Russia’s coal exports, production hit 5-year high in 2018

14/01/2019 09:26:00

Russia’s production and exports of coal hit last year their highest levels since 2013, according to Platts estimates of data from Russia’s Energy Ministry.

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Trans Adriatic Pipeline secures €3.9bn project financing

14/01/2019 09:20:00

The Trans Adriatic Pipeline, which will be laid between the Turkish-Greek border and Italy, aims to bring Caspian natural gas from the giant Shah Deniz II field in Azerbaijan to Europe. The pipeline will also have a subsea section of 105km in the Adriatic Sea.

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