Daily (15.05.2019): Brent crude rose by 1.4% on Tuesday, after a drone attack on a Saudi Arabia oil firm

15/05/2019 11:19 Daily

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Crude oil prices soared on Tuesday, after the attack of the Yemeni explosive-charged drones on Saudi Arabia’s oil firm, Aramco, which shortly halted pumping. However, production and oil exports continued without disruption. Meanwhile, China-US trade negotiations are still not settled. As a result, Brent crude rose by 1.4% to $71.24 a barrel, while WTI futures traded 1.2% higher at $61.78 a barrel.

British gas prices were mixed on Tuesday. NBP day-ahead price plunged by 3.3% to 32.20 p/therm, due to warmer weather across the country. Meanwhile, the contract for delivery in Q3 2019 traded 0.6% higher at 35.12 p/therm, influenced by the expectation of a lower wind power output.

 

European day-ahead power prices varied on Tuesday. The price for the German day-ahead power contract slipped by 0.4% to 40.85 EUR/MWh due to lower demand. Meanwhile, the equivalent French contract settled 0.4% up at 40.72 EUR/MWh, on weaker renewables generation.

 

Along the curve, electricity prices declined. The price for the German power contract for delivery in 2020 fell by 1% to 48.61 EUR/MWh tracking the bearish evolution of the spot price. At the same time, the equivalent French contract traded 0.8% down at 51.66 EUR/MWh, due to several reactors expected to restart later on Tuesday that might leave the system oversupplied.

 

EU carbon prices reversed trend, surging on Tuesday, on a stronger auction and bullish energy market. The price for the 2021-expiry contract settled 3.3% higher at 26.44 EUR/tonne.

Daily (19.11.2019): NBP spot fell by 2% on forecasts for lower heating and gas-for-power demand due to milder weather

19/11/2019 10:40:00

Oil prices lost ground on Monday amid uncertainty over a trade agreement between the U.S. and China. Furthermore, worries about crude oversupply also put pressure on oil contracts. Brent crude dropped by 1.4% to $62.44 a barrel and WTI futures fell by 1.1% to $58.05 a barrel.

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Ukrainian power player hits 1GW milestone

19/11/2019 09:12:00

Ukraine developer DTEK has reached 1GW of online renewables capacity after completing the 100MW Orlivska wind farm in the Zaporizhzhia region of its home market.

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World's largest green-hydrogen plant begins operation in Austria

19/11/2019 09:09:00

The world’s largest green-hydrogen production facility has commenced operations in Austria, “setting an international milestone in the advancement of new energy supply options”, according to the project partners.

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