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

news

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 (18.07.2019): French spot power price plunged by over 9% on Wednesday, amid stronger wind generation and falling consumption

18/07/2019 11:43:00

Crude oil prices extended losses on Wednesday, following a higher-than-expected rise in the U.S. refined product inventories. At the same time, official data also showed that U.S. crude inventories fell more than anticipated. Against that background, Brent crude traded 1.1% lower at $63.66 a barrel, while WTI futures dropped by 1.5% $56.78 a barrel.

<READ MORE

Polish LNG terminal receives 64th cargo

18/07/2019 08:20:00

Polish liquefied natural gas import facility the President Lech Kaczyński terminal in Świnoujście has received a new cargo on Tuesday, July 16.

READ MORE

France's Akuo Energy, IEL Energie sign MoU to develop wind farm in Serbia

18/07/2019 08:18:00

France's Akuo Energy and IEL Energie have signed a memorandum of understanding (MoU) with Serbia's autonomous province of Vojvodina for the construction of the Basaid wind farm, Serbian energy minister Aleksandar Antic said.

READ MORE