Daily (21.06.2019): Brent crude price jumped by 4.3% due to a potential military conflict between US and Iran

21/06/2019 11:00 Daily


Oil prices surged on Thursday on worries about a conflict between Washington and Teheran, after Iran shot down a U.S. military drone. Prices were also backed by expectations that Fed would cut interest rates and U.S inventories would weaken. Brent crude rose by 4.3%, or $2.63, to $64.45 a barrel. At the same time, WTI futures added $3.31, or 6.2% to end at $57.07 a barrel.


Most of the British gas prices soared on Thursday due to an undersupplied system. The Winter 2019 delivery contract settled around 1% higher at 50.21 p/therm. However, NBP spot price lost 0.15 pence, or 0.6%, to close at 27.00 p/therm, as higher wind generation weighed on gas-for-power demand.


European power prices were mixed on Thursday. German spot price gained 6.3% to trade at 38.69 euros/tonne, on forecasts for weaker wind and solar generation. At the same time, the French day-ahead power price lost 2.2% to end at 33.89 euros/MWh, as consumption is likely to decline ahead of the weekend.


Further along the curve, European power prices were almost flat. The German Cal 2020 delivery contract inched down by 0.2% at 46.89 euros/MWh. The French equivalent contract traded slightly lower at 49.97 euros/MWh.


European carbon prices were bullish on Thursday due to the recent selling pressure. However, gains were limited by weaker demand. The 2020-expiry contract inched 0.6% higher at 25.41 euros/tonne.

EBRD Finances Private-to-Private Solar Project in Jordan

20/08/2019 08:25:00

The European Bank for Reconstruction and Development together with its partners is supporting a pioneering energy project in Jordan with a financial package of up to $35 million. The project will enable the telecom operator Orange Jordan to cover part of its demand with clean energy generated in solar plants.


Belene project attracts five expressions of interest

20/08/2019 08:21:00

Five companies have expressed interest in Bulgaria’s invitation for strategic investment in the construction of Belene nuclear power plant on the Danube River near the Romanian border. According to national newspaper 24 Chasa, China National Nuclear Corporation, Framatome, General Electric, Korea Hydro and Nuclear Power and Rosatom have all applied for the selection process.


Equinor completes acquisition with Shell in the US Gulf of Mexico

20/08/2019 08:18:00

The Bureau of Ocean Energy Management has approved Equinor and Shell’s transaction announced in May 2019, whereby Equinor exercised its preferential right to acquire 22.45% interest in the Caesar Tonga oil field from Shell Offshore Inc for a total consideration of $965 million in cash.