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

15/04/2019 11:24 Daily

news

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 (16.04.2019): NBP spot plunged by 6.9% on Monday, on milder weather forecasts and new LNG arrivals

16/04/2019 10:34:00

Oil prices reversed trend registering losses on Monday, after having hit recently a five-month high, on signals that Russia could boost production to strengthen its position on the market. Brent crude edged 0.5% lower at $71.18 a barrel, while WTI Crude dropped by 0.8% to $63.40 a barrel.

<READ MORE

EU approves €5bn Polish energy scheme, probes surcharge reductions

16/04/2019 09:01:00

The European Commission has approved a €5 billion (£4.3bn) Polish support scheme for co-generated electricity with surcharge reductions for large energy users.

READ MORE

Siemens Gamesa in final talks for 700-MW-plus offshore wind turbine contract

16/04/2019 08:58:00

Siemens Gamesa Renewable Energy SA said Monday it is in final negotiations with Swedish state-owned utility Vattenfall AB to supply turbines for the Hollandse Kust Zuid (HKZ) I & II offshore wind projects in Dutch waters.

READ MORE