Daily (14.10.2019): Brent crude climbed by over 2.4% on Friday, following an Iranian tanker explosion in the Red Sea

14/10/2019 11:48 Daily

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Crude oil prices soared on Friday, bolstered by rising tensions in the Middle East following a missile attack on an Iranian tanker. Hence, Brent crude traded 2.4% up at $60.51, while WTI futures rose by 2.2% to $54.70 a barrel.

British day-ahead wholesale gas prices jumped on Friday on expectations for a rise in gas demand. NBP spot closed 4.7% higher at 23.20 p/therm. On the curve, however, prices lost ground as the UK gas gas system is still oversupplied. The contract for delivery in Summer 2020 fell by 0.6% to 44.04 p/therm.

 

European spot electricity prices extended their fall on Friday. The French prompt power price dropped by 10.4% to 24.99 EUR/MWh due to milder temperatures. In the meantime, the German equivalent contract plunged by 24% to 19.73 EUR/MWh amidst huge wind output and decreasing demand.

 

Further on the curve, power prices strengthened, tracking higher carbon and gas prices. The German Cal 2020 delivery contract advanced by 2.8% to 48.27 EUR/MWh, while the French equivalent contract was 2.7% higher at 51.26 EUR/MWh.

 

European carbon prices jumped on Friday, supported by stronger oil prices and growing optimism over a potential Brexit deal. The price for the contract expiring in 2020 hiked by 5% to 24.63 EUR/tonne.

Daily (15.11.2019): The German spot power contract lost 16.4% on Thursday, amidst a sharp rise in wind output

15/11/2019 11:07:00

A build in U.S. crude inventories and higher oil production reported for this week put pressure on crude oil prices on Thursday. However, OPEC’s potential deepening of supply cuts later this year limited losses. Hence, Brent crude fell by 0.1% to $62.28 a barrel, while WTI futures dropped by 0.6% to $56.77 a barrel.

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Gazprom Export supplies 1st LPG from Russia to China by rail

15/11/2019 09:28:00

Gazprom Export has for the 1st time supplied liquefied petroleum gas by rail from Russian Federation to the People’s Republic of China. This was done as part of the preparations for exports from the Amur gas processing plant, which is under construction at the moment.

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Ørsted greenlights 460MW solar and battery storage project

15/11/2019 09:24:00

Ørsted has started the construction of a new 460MW solar power and battery storage project in the US.

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