Daily (21.03.2019): A sharp drop in crude inventories led to a 2% rise in WTI crude on Wednesday

21/03/2019 10:14 Daily

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Oil prices soared on Wednesday buoyed by U.S. government data that showed a sharp drop in crude inventories due to strong export and increasing refining demand. As such, Brent crude rose by 1.3% to $68.50 a barrel, while WTI futures traded 2% higher at $60.23 a barrel. Still, gains could be limited by concerns on the ongoing U.S.-China trade war and its effects on global demand.

British gas prices were mixed on Wednesday. NBP spot fell by 0.5% to 37.58 p/therm, influenced by milder weather establishment. However, a decline in flows from Norway pushed forward contracts’ prices higher. The contract for delivery in Q2 2019 traded 2.1% up at 37.50 p/therm

 

European day-ahead power prices declined on Wednesday affected by an increase in wind power and forecasts for weaker demand. The price for the German spot power contract fell by 4.1% to 39.79 EUR/MWh, while the equivalent French contract traded 4.8% lower at 39.94 EUR/MWh, on firmer nuclear power supply.

 

Along the curve, electricity prices also lost ground, tracking lower coal prices. The price for the German power contract for delivery in 2020 slipped by 0.4% to 45.87 EUR/MWh, while the equivalent French contract edged 0.4% lower at 49.11 EUR/MWh.

 

EU carbon prices recouped previous session’s losses on Wednesday, rising closer to the €22 mark, as a bounce in natural gas prices boosted the overall energy complex. The price for the 2021-expiry contract traded 2.4% higher at 22.47 EUR/tonne.

Daily (20.05.2019): NBP spot price slumped by 7.5% on Friday amid system oversupply

20/05/2019 11:11:00

Oil prices lost momentum on Friday, weighed by persistent concerns over a weakening demand because of the stalemate in the U.S.-China trade negotiations. However, the decline in the Iranian and Russian exports along with reduced shipments from the North Sea capped losses. As a result, Brent crude retreated by 0.6% to 72.21 USD/bbl. In the meantime, WTI Crude price slipped by 0.2% to 62.76 USD/bbl.

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Alpiq sells two Czech coal-fired power plants to Sev.en Energy

20/05/2019 09:19:00

Swiss company Alpiq has agreed to sell its two coal-fired power plants in the Czech Republic to Sev.en Energy Group for nearly $307.15m (€280m).

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Gazprom makes huge Siberian gas discovery

20/05/2019 09:16:00

Russia's state-owned Gazprom Friday announced a 17-trillion-cubic-foot gas discovery in Siberia, Kallanish Energy reports.

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