Daily (27.06.2019): EUAs hit a 2-month peak on Wednesday due to no new supply

27/06/2019 10:07 Daily

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Oil prices surged by more than 2% on Wednesday to hit their peak level in almost a month, supported by unexpected drops in refined product stockpiles and a larger-than-anticipated drawdown in crude stocks as exports hit a record high. Brent crude futures rose by $1.44, or 2.2%, to close at $66.49 a barrel. WTI futures increased by $1.55, or 2.7%, to close at $59.38 a barrel.

Reduced flows from Norway and bullish oil markets weighed on the UK gas prices on Wednesday. NBP spot soared by 4.8% to 26.40 p/therm. Along the forward curve, the 2019 delivery contract traded 0.6% higher at 49.77 p/therm.

 

European spot electricity prices for day-ahead delivery were constant on Wednesday due to a rather balanced system, as stronger demand for cooling counterbalanced increased wind generation. The French baseload power contract for Thursday delivery traded at 29.33 EUR/MWh. The German baseload contract settled at 38.56 euros/MWh.

 

On the forward curve, electricity prices edged higher on Wednesday, amid a bullish energy complex and strong gains in the carbon market. Germany’s Cal’20 baseload power, the European benchmark, added 0.8% to 49.46 EUR/MWh. The French equivalent contract traded 0.4% higher at 52.09 EUR/MWh.

 

European carbon prices reached a two-month peak on Wednesday, as no fresh supply entered into the market for the second straight day. Moreover, a continental heatwave and speculative buying also boosted prices. The 2021-expiry contract settled 3.6% higher at 28.20 euros/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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