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 (17.09.2018): German spot electricity contract lost 20.1% on Friday, due to increased solar and coal power supply

17/09/2018 11:30:00

Oil crude prices were almost steady on Friday after the previous session's sharp decline caused by worries about lower demand. However, prices recouped losses to end the week higher, stimulated by earlier gains on supply constraints from Iran following U.S. sanctions. WTI crude closed 0.6% up at $68.99 a barrel, while Brent price edged slightly down at $78.09 a barrel.

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SSE seeks nod for 80-MW wind repowering project in Scotland

17/09/2018 09:12:00

UK energy group SSE is seeking permission for a repowering plan that will lift to 80 MW the capacity of a 18.7-MW wind farm in Scotland.

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Russia to take on Australia and Indonesia in Asian coal market

17/09/2018 09:05:00

SUEK, Russia’s largest coal producer, intends to boost sales to Thailand, Vietnam and other Southeast Asian countries.

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