Daily (18.04.2019): EU carbon prices climbed by 1.7% on Wednesday, amidst tighter supply and bullish gas prices

18/04/2019 10:46 Daily

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Crude oil prices edged lower on Wednesday, as EIA announced that U.S. crude stocks fell less than anticipated. Meanwhile, OPEC supply cuts and U.S sanctions limited losses. As a result, Brent crude slipped by 0.1% to $71.62 a barrel, while WTI futures traded 0.5% lower at $63.76 a barrel.

British gas prices gained ground on Wednesday, even though warmer weather and more renewable output is expected. Despite an oversupplied system, the NBP day-ahead hiked by 1.7% to 35.90 p/therm, while the contract for delivery in Q3 2019 traded 2.7% higher at 39.48 p/therm.

 

European day-ahead power prices varied on Wednesday. The price for the German day-ahead power contract was almost constant at 40.84 EUR/MWh on uncertain direction of solar power output. Meanwhile, the equivalent French contract closed 1.7% down at 41.55 EUR/MWh, due to rising temperatures.

 

Along the curve, electricity prices spiked, tracking higher carbon and gas prices. The price for the German power contract for delivery in 2020 rose by 1.5% to 51.00 EUR/MWh, while the equivalent French contract traded 1.3% higher at 53.82 EUR/MWh.

 

EU carbon prices surged on Wednesday, influenced by tighter supply and rising gas prices. The price for the 2021-expiry contract settled 1.7% higher at 28.21 EUR/tonne.

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 11:19:00

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.

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ICGB selects Greece's J&P-Avax to build Greece-Bulgaria gas link

15/05/2019 09:29:00

ICGB, the project company developing the Gas Interconnector Greece-Bulgaria, said on Tuesday it has picked Greece's J&P-Avax to buid the gas link for 144.8 million euro ($162.6 million).

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Nordex unveils 350-MW US deal for 4-MW class turbines

15/05/2019 09:26:00

German wind turbine maker Nordex today announced an order for 350 MW of its Delta4000 machines from an unnamed energy supplier in the US.

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