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.

EDF clean power tops 2GW in France

10/12/2019 09:19:00

EDF Renouvelables has reached the 2GW milestone for wind and solar capacity in France, following a record year for onshore wind for the company in the country.

<READ MORE

Poland's PGNiG and Ukraine's ERU team up on gas exploration

10/12/2019 09:27:00

Poland’s leading gas firm, state-run PGNiG, said on Monday it agreed a deal with Ukraine’s ERU Management Services to cooperate on hydrocarbon extraction and exploration in Ukraine.

READ MORE

UK wind powers to new generation high

10/12/2019 09:11:00

The UK generated a record of over 16GW of electricity from wind power on 8 December, according to RenewableUK citing National Grid data.

READ MORE