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.

Bosnia's Federation aims at 44% share of renewable energy in 2020

13/11/2018 09:42:00

Bosnia's Federation government targets a 44% share of renewable energy in the entity's electricity mix in 2020, it said.


Daily (12.11.2018): German electricity spot price fell by 27.6% on Friday due to an oversupplied system

12/11/2018 14:48:00

Stronger global supply alongside increased fears over lower rhythm of demand growth led to bearish oil prices on Friday. Brent crude lost $0.47, or 0.7% to end at $70.18 a barrel. WTI futures traded $0.48, or 0.8% lower at $60.19 a barrel.


Saudi Arabia, Russia discussing possible oil-production cuts

12/11/2018 11:28:00

Saudi Arabia's energy minister said Sunday that the kingdom will reduce exports by about 500,000 barrels a day from November to December. Khalid al-Falih made the comment at a meeting of oil producers in Abu Dhabi.