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.

Daily (15.11.2019): The German spot power contract lost 16.4% on Thursday, amidst a sharp rise in wind output

15/11/2019 11:07:00

A build in U.S. crude inventories and higher oil production reported for this week put pressure on crude oil prices on Thursday. However, OPEC’s potential deepening of supply cuts later this year limited losses. Hence, Brent crude fell by 0.1% to $62.28 a barrel, while WTI futures dropped by 0.6% to $56.77 a barrel.

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Gazprom Export supplies 1st LPG from Russia to China by rail

15/11/2019 09:28:00

Gazprom Export has for the 1st time supplied liquefied petroleum gas by rail from Russian Federation to the People’s Republic of China. This was done as part of the preparations for exports from the Amur gas processing plant, which is under construction at the moment.

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Ørsted greenlights 460MW solar and battery storage project

15/11/2019 09:24:00

Ørsted has started the construction of a new 460MW solar power and battery storage project in the US.

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