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 (29.05.2020): UK gas prices plunged to historical lows due to oversupply and weak demand

29/05/2020 10:37:00

Crude oil futures turned higher on Thursday, shrugging off an unexpected rise in U.S. crude stockpiles as traders focused on falling gasoline stocks and a further decline in crude stored at the New York Mercantile Exchange’s delivery hub in Cushing, Oklahoma. Moreover, expectations for further oil outputs cuts by Russia starting from July added to the upbeat sentiment.

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EU Bank offers €18m loan to Polish solar sector

29/05/2020 09:09:00

The PV plants are expected to save 47,000 tonnes of carbon dioxide each year.

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Kremlin says Nord Stream-2 gas pipeline will be completed

29/05/2020 09:05:00

The construction of the undersea Nord Stream-2 gas pipeline to Europe will be completed, the Kremlin said on Thursday amid threats of additional sanctions against the project from the United States.

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