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.

Wind park of 102 MW opens to power Philips in Netherlands

20/05/2019 09:10:00

The 102-MW Windpark Krammer facility in the southwest of the Netherlands was officially opened this week in a ceremony attended by King Willem-Alexander.

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Daily (17.05.2019): Brent crude added 1.2% on Thursday, due to rising tensions in the Middle East

17/05/2019 09:37:00

Oil prices extended momentum on Thursday, on rising tensions in the Middle East, as Saudi Arabia responded to its recent attacks on its crude oil firm by launching air strikes on the Houthi-held capital Sanaa. Brent crude rose by 1.2% to $72.62 a barrel, while WTI Crude increased by 1.4% to $62.87 a barrel.

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Irish wind hit 37% high in Q1

17/05/2019 09:01:00

Wind’s share in Ireland’s electricity rose 2% to 37% in the first quarter of 2019, compared with the same period in 2018, according to the Irish Wind Energy Association (IWEA).

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