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 (20.05.2019): NBP spot price slumped by 7.5% on Friday amid system oversupply

20/05/2019 11:11:00

Oil prices lost momentum on Friday, weighed by persistent concerns over a weakening demand because of the stalemate in the U.S.-China trade negotiations. However, the decline in the Iranian and Russian exports along with reduced shipments from the North Sea capped losses. As a result, Brent crude retreated by 0.6% to 72.21 USD/bbl. In the meantime, WTI Crude price slipped by 0.2% to 62.76 USD/bbl.

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Alpiq sells two Czech coal-fired power plants to Sev.en Energy

20/05/2019 09:19:00

Swiss company Alpiq has agreed to sell its two coal-fired power plants in the Czech Republic to Sev.en Energy Group for nearly $307.15m (€280m).

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Gazprom makes huge Siberian gas discovery

20/05/2019 09:16:00

Russia's state-owned Gazprom Friday announced a 17-trillion-cubic-foot gas discovery in Siberia, Kallanish Energy reports.

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