Daily (15.05.2018): Brent crude jumped by 1.4% on Monday, global oil oversupply almost eliminated

15/05/2018 11:15 Daily

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Oil prices soared on Monday after OPEC declared that the global oil oversupply has been virtually eliminated. Brent crude gained $1.11, or 1.4%, to end at $78.23 a barrel. WTI futures rose $0.26, or 0.4%, to close at $70.96 a barrel.

British wholesale gas prices surged on Monday following the upward evolution in the oil markets. UK day-ahead price gained 0.95 pence, or 1.7%, to close at 55.75 p/therm. Meanwhile, Q3 2018 delivery contract settled 1.5% higher at 55.74 p/therm.


European electricity prices increased on Monday to hit new peaks, driven by higher demand and bullish oil prices. German day-ahead power price soared by 30.6% to end at 42.43 euros/MWh. The French spot base power price jumped by 37,4% to close at 43.05 euros/MWh.


Further along the curve, German Cal 19’ European benchmark settled 1.1% higher at 41.20 euros/MWh. The French equivalent contract closed 0.8% higher at 45.96 euros/MWh.


EU carbon prices ended almost flat on Monday after the market returned to ordinary sale supply. The carbon contract expiring in 2019 closed slightly higher at 14.80 euros/tonne.

Senvion seals 250MW India deal

14/08/2018 08:59:00

Senvion has secured a conditional order from Continuum Wind Energy for the supply and commissioning of 108 turbines for the 250MW Bhuj wind project in the Gujaratstate in northwest India.

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Rosatom seeks to boost cooperation in Eurasia

14/08/2018 08:49:00

Rusatom International Network - a subsidiary of Russian state nuclear corporation Rosatom - has signed a memorandum of understanding and cooperation with the Eurasian Development Bank (EDB).

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EBRD invests €100M in Bulgarian Energy Holding

14/08/2018 08:43:00

The European Bank for Reconstruction and Development (EBRD) has invested €100 million in a new seven-year €550 million bond issued by Bulgarian Energy Holding (BEH), the state-owned entity that controls the country’s energy assets, including the public suppliers of electricity and gas, the EBRD announced on Monday.

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