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 (18.06.2019): NBP day-ahead climbed by 6.5% on Monday, due to an undersupply in the system and reshuffle of flows

18/06/2019 09:49:00

Crude oil prices declined on Monday weighed by fears of an economic growth slowdown amid international trade disputes between U.S., China and India. However, the recent attack on two oil tankers in the Middle East limited losses. As a result, Brent crude dropped by 1.7% to $60.94 a barrel, while WTI futures lost 1.1% to settle at $51.93 a barrel.

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Scotland grants marine approval to 800-MW Moray West wind farm

18/06/2019 08:42:00

Scotland has given a marine licence to the roughly 800-MW Moray West offshore wind project in the outer Moray Firth Zone, the government announced on Friday.

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Serbia's MK Group to build 8.1 mln euro biomass-fired power plant

18/06/2019 08:39:00

Serbian diversified conglomerate MK Group said on Monday that it plans to invest 8.1 million euro ($9.1 million) in the construction of a biomass-fired power plant in Vrbas, in the northern part of the country.

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