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 (21.02.2020): German spot power down 15% on Thursday due to higher wind output, lower demand

21/02/2020 10:13:00

Crude oil futures edged higher on Thursday after an EIA report showed U.S. crude inventories rose less than expected last week. However, gains were capped by worries about the outbreak of coronavirus outside China.

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Total, PTTEP win onshore exploration concession Block 12 in Oman

21/02/2020 09:35:00

Total and Thailand-based PTT Exploration and Production Public Company (PTTEP) have won the rights to Block 12, a nearly 10,000km2 onshore exploration concession in Oman.

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Offshore wind in 'record' 5.2GW global surge

21/02/2020 09:31:00

Last year set a new record for offshore wind installations with 5.2GW of capacity entering into operations globally, according to a new report by World Forum Offshore Wind (WFO).

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