Daily (19.06.2019): WTI futures hiked by 4% on Tuesday, on improved trade negotiations between China and U.S.

19/06/2019 10:29 Daily

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Crude oil prices increased by more than $1 a barrel on Tuesday, ahead of the G20 summit later this month, when China and U.S. will try to negotiate softer trade tariffs. Tensions in the Middle East also lent support to prices. As a result, Brent crude rose by 2% to $62.14 a barrel, while WTI futures closed 3.8% higher at $53.90 a barrel.

British gas prices lost momentum on Tuesday, due to the expected arrival this week of 2 Qatari LNG cargoes at the South Hook terminal. NBP day-ahead decreased by 3.1% to 30.20 p/therm, while the contract for delivery in July 2020 traded 5.1% lower at 27.82 p/therm.

 

European prompt power prices were bearish on Tuesday due to increased thermal output that offset slightly higher-than-usual demand. The price for the German day-ahead power contract fell by 2.6% to 41.20 EUR/MWh, while the equivalent French contract settled 1.5% lower at 33.26 EUR/MWh.

 

Meanwhile, forward electricity prices varied on Tuesday, tracking mixed signals from fuel and carbon prices. The price for the German power contract for delivery in 2020 edged 0.1% up to 47.67 EUR/MWh, while the equivalent French contract remained unchanged at 50.58 EUR/MWh.

 

EU carbon prices nudged up on Tuesday, following a stronger auction sentiment. As a result, the price for the 2021-expiry contract traded 0.4% higher at 25.82 EUR/tonne.

SOCAR expands its gas pipeline network in Georgia

19/07/2019 08:54:00

SOCAR Georgia Gas company (Georgian subsidiary of Azerbaijan’s state oil company SOCAR), has increased the length of its gas pipeline network in the neighboring country, Trend reports with reference to the Georgian government.

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German coal imports could fall 10% in 2019 in face of rising renewable power

19/07/2019 08:51:00

Germany’s hard coal imports may fall for the fourth year in a row this year and by around 10% from 2018 levels, importers’ group VDKi forecast on Thursday, citing competition from renewable energy and slack demand from steelmakers.

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Daily (18.07.2019): French spot power price plunged by over 9% on Wednesday, amid stronger wind generation and falling consumption

18/07/2019 11:43:00

Crude oil prices extended losses on Wednesday, following a higher-than-expected rise in the U.S. refined product inventories. At the same time, official data also showed that U.S. crude inventories fell more than anticipated. Against that background, Brent crude traded 1.1% lower at $63.66 a barrel, while WTI futures dropped by 1.5% $56.78 a barrel.

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