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 (12.09.2019): WTI crude lost almost 3% on Wednesday, on news that U.S. might ease sanctions on Iran

12/09/2019 11:31:00

Crude oil prices declined on Wednesday, as U.S. administration could ease sanctions against Iran, thereby inflate global supplies. At the same time, both OPEC and EIA slashed demand forecasts this week. Consequently, WTI crude dropped by 2.9% to $55.75 a barrel, while Brent oil decreased by 2.5% to $60.81 a barrel.

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Poland's energy minister says power prices must stay under control

12/09/2019 08:52:00

Poland’s energy minister, Krzysztof Tchorzewski, said on Wednesday that the country would have to maintain controls on electricity prices to secure economic competitiveness.

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UK Dechra's Croatian unit opens 1.5 mln euro solar power plant

12/09/2019 08:48:00

Croatian drug maker Genera, a subsidiary of UK veterinary pharmaceuticals firm Dechra, has officially opened a 1.3 million British pounds (1.5 million euro) solar power plant which will meet a third of the electricity needs of its manufacturing facility in Zagreb, Dechra said on Wednesday.

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