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

17/05/2019 09:37 Daily

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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.

British gas prices pointed losses for the fifth consecutive day on Thursday, due to lower gas consumption and an oversupplied system. Higher wind production also weighed on prices. As a result, NBP spot fell by 0.3% to 31.90 p/therm, while the contract for delivery in Q1 2020 traded 1.1% lower at 58.46 p/therm.

 

European day-ahead power prices reversed trend, adding gains on Thursday. The price for the German day-ahead power contract soared by 8.1% to 42.95 EUR/MWh, on falling wind output. Meanwhile, the equivalent French contract settled 6% higher at 42.11 EUR/MWh, due to ongoing construction activities at one of the nuclear reactors in the North of France that might disturb supply.

 

Along the curve, electricity prices also surged, tracking bullish oil prices. The price for the German power contract for delivery in 2020 edged 0.5% higher to 49.43 EUR/MWh, while the equivalent French contract ended 0.3% up at 52.36 EUR/MWh.

 

EU carbon prices were bearish on Thursday, due to weak auction activity and softer gas prices. The price for the 2020-expiry contract traded 1.6% lower at 25.81 EUR/tonne.

Daily (28.05.2020): After previous gains, energy markets turned bearish again on Wednesday

28/05/2020 11:48:00

Oil prices turned bearish on Wednesday as tensions between China and the United States intensified, following the statements of the American president about a firm response to China’s proposed security law in Hong Kong. Moreover, some traders treated with suspicion Russia’s commitment to deep production cuts.

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European Energy Wins Approvals for Two Offshore Wind Farms in Denmark

28/05/2020 10:12:00

Renewables developer European Energy A/S has received the approval of its environmental impact assessments (EIA) for two of its offshore wind projects, Omø South and Jammerland Bay in Denmark.

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EDF submits application to build 3.2 GW Sizewell C nuclear plant in UK

28/05/2020 10:06:00

EDF Energy has submitted an application to the UK's Planning Inspectorate to build two 1.6 GW nuclear reactors at its Sizewell site in Suffolk, it said Wednesday.

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