Daily (22.07.2019): EU carbon prices jumped by almost 4% on Friday, ahead of an approaching heatwave and bullish technical signals

22/07/2019 11:00 Daily

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Oil prices increased on Friday, bolstered by the rising tensions in Iran, after U.S. Navy destroyed an Iranian drone in the Strait of Hormuz. As a result, Brent crude climbed by 0.9% to $62.47 a barrel, while WTI futures inched up by 0.6% to $55.63 a barrel.

British forward gas prices added ground on Friday, influenced by an undersupply in the system caused by limited flows from Norway through the Langeled pipeline that were rerouted to continental Europe. As a result, the contract for Q4 19 delivery closed 1.9% up at 48.68 p/therm. Meanwhile, the spot price edged down, due to stronger wind output that curbed demand for gas used for power. Hence, NBP day-ahead price declined by 0.9% to 28.75 p/therm.

 

European day-ahead power prices plunged on Friday. The price for the German day-ahead power contract tumbled by 21.7% to 35.09 EUR/MWh due to the expectations for higher wind power supply and solar generation. At the same time, the equivalent French contract ended 21.8% lower at 33.14 EUR/MWh, influenced by stable nuclear supply and higher temperatures.

 

Meanwhile, forward electricity prices recorded gains, tracking higher gas and carbon prices. The price for the German power contract for delivery in 2020 rose by 2.2% to 52.61 EUR/MWh, while the equivalent French contract traded 1.9% higher at 54.36 EUR/MWh.

 

EU carbon prices added momentum on Friday, ahead of an impending heatwave and bullish technical indicators. As a result, the price for the contract expiring in 2019 increased by 4% to 28.89 EUR/tonne.

Daily (20.08.2019): Brent crude surged by around 2% on Monday on worries about global oil supplies

20/08/2019 11:19:00

Crude oil prices rose on Monday after Yemen’s Houthi forces used a drone to attack an oilfield in eastern Saudi Arabia on Saturday, threatening global oil supplies. Brent crude added $1.1, or 1.9% to settle at $59.74 a barrel. WTI futures gained $1.34, or 2.4% to end at $56.21 a barrel.

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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.

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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.

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