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

news

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 (12.04.2019): Carbon prices hit a fresh 11-year peak on Thursday, after the second Brexit extension

12/04/2019 10:21:00

Crude oil prices declined on Thursday, due to concerns that OPEC might increase its oil production as of July if oil supplies from Venezuela and Iran continue to tighten and consequently support prices. The surging U.S. crude inventories also weighed on prices. WTI futures lost 1.6% to settle at $63.58 a barrel, while Brent crude price dropped by 1.3% to $70.83 a barrel.

<READ MORE

E.ON breaks ground on 220MW wind farm

12/04/2019 09:09:00

E.ON has announced the start of construction on a new 220MW wind farm in Texas.

READ MORE

Romgaz considers developing cogeneration plant with Oradea municipality

12/04/2019 09:00:00

Romgaz, Romania’s state-controlled natural gas producer, considers a new investment in a combined power and heating plant (or cogeneration plant) in Oradea, in partnership with the municipality, Profit.ro reported.

READ MORE