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 (11.04.2019): The EU carbon prices hit a new 11-year high on Wednesday on Brexit delay optimism

11/04/2019 10:19:00

Crude oil prices increased on Wednesday, after EIA report showed that U.S. gasoline stocks plunged more than expected last week, offsetting the surging crude inventories. OPEC’s oil production at four-year low in March coupled with U.S. sanctions on Iran and Venezuela lent more support to prices. Brent crude price rose by 1.6% to $71.73 a barrel, while WTI futures traded 1% up at $64.61 a barrel.

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Total, partners reach initial agreement on $13 billion Papua LNG project

11/04/2019 08:59:00

France’s Total and its partners signed a long-awaited deal with Papua New Guinea on Tuesday that will allow initial work to start on a $13 billion plan to double the country’s liquefied natural gas exports.

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Axpo, Aquila unveil PPAs for 133 MW of Swedish wind

11/04/2019 08:52:00

Axpo Nordic AS, a unit of Swiss utility Axpo, has agreed to buy the output of 133.2 MW of Swedish wind parks owned by German alternative investment manager Aquila Capital.

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