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


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.


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.


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.