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 (18.02.2020): Carbon prices above the €25-threshold amid a bullish wider energy complex

18/02/2020 10:08:00

Crude oil futures edged higher on Monday as the coronavirus-related demand worries have been offset by output cuts from major oil producers. Brent crude rose by 35 cents, or 0.6% to settle at $57.67 a barrel. U.S WTI crude increased by 0.5% to end at $52.31 a barrel. However, trading volumes were thin due to the U.S. Presidents’ Day holiday.

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ScottishPower announces 100% green electricity tariffs

18/02/2020 09:22:00

Energy supplier ScottishPower has announced that from today domestic fixed-price tariffs will be supplied by 100% green electricity generated by the company’s own UK windfarms.

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Europe adds 15.4 GW of wind in 2019

18/02/2020 09:18:00

Europe added 15.4 GW of new wind power generation capacity in 2019, up by 27% from a year ago, industry body WindEurope announced today.

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