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

15/05/2018 11:15 Daily


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.


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).


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.