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 (01.06.2020): WTI crude hovered above $35 a barrel on Friday, gaining 6.7% for the week

01/06/2020 11:00:00

Crude oil futures gained ground in the last trading day of the month after the release of the EIA’s report showing a further drop in oil well drilling in the United States. Hence, Brent crude for July delivery rose slightly to $35.33 a barrel, while, the more active August contract settled at $37.84, edging $1.81 higher, or roughly 5%. WTI crude for July delivery settled at $35.49 a barrel, surging $2.24, or 5.3%.

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Iberdrola subsidiary secures 62 Siemens Gamesa wind turbines for offshore project in France

01/06/2020 10:33:00

The wind turbines will be installed at Ailes Marines’s facility in France, generating 750 jobs in the process.

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Italy's Enel to close one Brindisi coal unit in 2021

01/06/2020 10:30:00

Italian utility Enel will shut down one of the four units of its 2.4GW Brindisi south coal-fired plant starting from next year.

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