Daily (14.06.2019): Oil prices hiked by 2.2% on Thursday, due to conflict in the Gulf of Oman

14/06/2019 09:34 Daily

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Crude oil prices rose on Thursday, after two oil tankers were attacked in the Gulf of Oman stoking fears of a new conflict between Iran and the United States, the latter blaming Tehran for the incident. As a result, Brent crude increased by 2.2% to $61.31 a barrel, while WTI futures closed 2.2% higher at $52.28 a barrel.

British gas prices added momentum on Thursday, due to an undersupply in the system and a rise in oil market prices due to conflict in the Gulf of Oman. NBP day-ahead price rose by 3.6% to 30.65 p/therm, while the contract for Q1 20 delivery traded 0.3% up at 55.82 p/therm.

 

European prompt power prices added ground on Thursday supported by forecasts showing a drop in renewable power generation in France and Germany despite mild weather. The price for the German spot power contract soared by 8.1% to 41.62 EUR/MWh, while the equivalent French contract settled 6.4% higher at 34.50 EUR/MWh.

 

Forward electricity prices also added gains, amidst firmed carbon, oil and gas prices. The price for the German power contract for delivery in 2020 climbed by 1.3% to 47.81 EUR/MWh, while the equivalent French contract ended 1.4% higher at 50.86 EUR/MWh.

 

EU carbon prices nudged up on Thursday, reacting to a jump in oil prices, while the ongoing Brexit negotiations limited gains. The price for the 2020-expiry contract traded 0.6% higher at 25.25 EUR/tonne.

Daily (18.07.2019): French spot power price plunged by over 9% on Wednesday, amid stronger wind generation and falling consumption

18/07/2019 11:43:00

Crude oil prices extended losses on Wednesday, following a higher-than-expected rise in the U.S. refined product inventories. At the same time, official data also showed that U.S. crude inventories fell more than anticipated. Against that background, Brent crude traded 1.1% lower at $63.66 a barrel, while WTI futures dropped by 1.5% $56.78 a barrel.

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Polish LNG terminal receives 64th cargo

18/07/2019 08:20:00

Polish liquefied natural gas import facility the President Lech Kaczyński terminal in Świnoujście has received a new cargo on Tuesday, July 16.

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France's Akuo Energy, IEL Energie sign MoU to develop wind farm in Serbia

18/07/2019 08:18:00

France's Akuo Energy and IEL Energie have signed a memorandum of understanding (MoU) with Serbia's autonomous province of Vojvodina for the construction of the Basaid wind farm, Serbian energy minister Aleksandar Antic said.

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