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 (03.12.2019): NBP gas forward prices strongly bearish on Monday due to robust supplies from LNG terminals and from Norway

03/12/2019 11:26:00

Brent crude declined on Monday on concerns about global oil oversupply and limited progress toward resolving the U.S.-China trade war that has clouded the outlook for oil demand. Brent lost 2.4% to settle at $60.92 a barrel.

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Ireland to open 1st renewables auction in early 2020

03/12/2019 09:36:00

The Irish government on Monday gave the green light to the country’s first auction under its new Renewable Electricity Support Scheme (RESS) that is seen to pave the way towards a 70% renewables share by 2030.

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Novatek $4.8 bln Yamal LNG fleet complete. Yakov Gakkel expected to load next week

03/12/2019 09:33:00

Russia’s largest independent natural gas producer and LNG exporting player, Novatek has completed the $4.8 billion, 15-vessel strong fleet of Arc7 liquefied natural gas carriers set to serve its giant Yamal LNG project in the Arctic.

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