Daily (17.09.2019): Oil prices jumped by nearly 15% following the attacks on Saudi oil facilities

17/09/2019 11:00 Daily

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Crude oil prices posted its biggest daily gain in over 30 years, following the attack on Aramco crude facilities which led to a  in cut Saudi Arabia’s production and intensified concerns of retaliation in the Middle East. According to the news, Aramco may take months to resume normal output volumes. As a result, Brent crude surged by 14.7% to $69.02 a barrel, while WTI futures hiked by 14.6% to $62.90 a barrel.

British gas prices diverged on Monday. NBP spot fell by 3.3% to 30.75 p/therm, due to an oversupplied system. However, colder weather and higher oil prices lent support to forward gas prices. The contract price for delivery in Q4 2019 rose by 5.2% to 47.91 p/therm.

 

European spot power prices were mixed on Monday. The price for the German day-ahead power contract declined by 6.4% to 33.87 EUR/MWh, due to low demand after the weekend, while the equivalent French contract settled 23.9% higher at 42.75 EUR/MWh, caused by the instability of the EDF reactors.

 

Meanwhile, forward electricity prices nudged up, tracking the bullish evolution in the gas and carbon markets after the spike in oil prices. The price for the German power contract for delivery in 2020 rose by 2.4% to 51.70 EUR/MWh, while the equivalent French contract closed 2.3% up at 54.50 EUR/MWh.

 

EU carbon prices soared on Monday, following the recent events in the oil market. As a result, the price for the contract expiring in 2019 climbed by 2.5% to 27.28 EUR/tonne.

Daily (25.02.2020): EUAs down 4% as the coronavirus outbreak beyond China weighs on market sentiment

25/02/2020 10:43:00

Crude oil futures lost ground on Monday as the panic created over the spread of the coronavirus outside China intensified concerns that the epidemic could significantly curb global demand for black gold.

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North Macedonia considers coal phase out between 2025-2040

25/02/2020 09:30:00

North Macedonia is planning to end its use of coal for energy production by 2040 at the latest and sees a phase-out by 2025 as the cheapest option in two of three scenarios, environmental groups which helped draw up the strategy said on Monday.

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European wind sets second weekly record in a row averaging 88 GW

25/02/2020 09:27:00

European wind power generation averaged 88 GW last week, setting another new record and pushing hourly German power prices into negative territory over the weekend, data aggregated by WindEurope showed Monday.

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