Daily (15.04.2019): Brent crude climbed by 1% on upbeat Chinese economic data and tight global supply

15/04/2019 11:24 Daily

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Oil prices added gains on Friday following a recovery in Chinese exports last month. The rising U.S. and euro zone bond yields to three-week highs and German growth forecasts also supported prices. Furthermore, involuntary cuts in Venezuela supply and Iran signaled another lift in prices. Brent crude hiked by 1% to $71.55 a barrel , while WTI futures rose by 0.5% to $63.89 a barrel.

British gas prices were mixed on Friday. NBP spot fell by 1.1% to 40.00 p/therm as milder weather forecasts led to an oversupply in the system.  Meanwhile, on the curve, the contract for delivery in Winter 2019 traded 0.7% higher at 58.62 p/therm, tracking an upward evolution in oil prices.

 

European day-ahead power prices declined on Friday on expections for rising wind and solar power generation.The price for the German day-ahead power contract plunged by 7.8% to 41.42 EUR/MWh Meanwhile, the equivalent French contract traded 4.3% lower at 42.96 EUR/MWh, on falling demand in the region.

 

Along the curve, electricity prices edged higher following bullish oil markets and several gas contracts. The price for the German power contract for delivery in 2020 edged 0.3% higher at 50.86 EUR/MWh, while the equivalent French contract inched up by 0.7% to 53.97 EUR/MWh.

 

EU carbon prices lost ground on Friday, due to a bearish trading activity amidst Brexit uncertainty. The price for the 2020-expiry contract traded 2.7% lower at 26.89 EUR/tonne.

Daily (19.07.2019): NBP spot slumped by 4% on Thursday, due to increased supply and weak demand

19/07/2019 10:07:00

Crude oil prices continued their downward evolution on Thursday, influenced by lower U.S. equities markets. Prices were also weighed by an expected rise in the U.S. offshore oil output, as platforms have been returning to service after the Hurricane Barry passed through the Gulf of Mexico last week. Brent crude sank by 2.7% to $61.93 a barrel, while WTI futures dipped by 2.6% to $55.30 a barrel.

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Eneco inks PPA for 383-MW nearshore Dutch wind farm

19/07/2019 09:01:00

Dutch utility Eneco on Thursday unveiled a power purchase agreement (PPA) for the entire output of the 382.7-MW Fryslan nearshore wind park that is being built in Friesland, the Netherlands.

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SOCAR expands its gas pipeline network in Georgia

19/07/2019 08:54:00

SOCAR Georgia Gas company (Georgian subsidiary of Azerbaijan’s state oil company SOCAR), has increased the length of its gas pipeline network in the neighboring country, Trend reports with reference to the Georgian government.

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