Daily (28.03.2019): WTI futures declined by nearly 1% after unexpectedly higher U.S. crude stockpiles data

28/03/2019 09:54 Daily

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Crude oil prices lost ground on Wednesday, following EIA data which showed higher-than-anticipated crude inventories in the U.S. last week due to hampered crude cargoes traffic along the Houston Ship Channel and slower refining operations. The fall in prices was nevertheless limited by OPEC’s supply cuts and the disruption in Venezuelan exports caused by the second massive power blackout this month. Brent crude traded 0.2% down at $67.83 a barrel, while WTI futures lost 0.9 % to end at $59.41 a barrel. 

Stronger gas-for power demand driven by weaker wind generation led to an undersupplied system, boosting British gas prices on Wednesday. Moreover, lower flows from Norway supported the prices. The NBP spot price jumped by 3.3% to 37.45 p/therm. In the meantime, the contract for delivery in Summer 2019 hiked by 3.7% to 37.62 p/therm.

 

European day-ahead electricity prices climbed on Wednesday due to a drop in wind power supply. The German spot power price soared by 5.3% to 42.32 EUR/MWh. Meanwhile, the equivalent French contract closed 1.3% higher at 40.48 EUR/MWh.

 

Along the forward curve, power prices remained bullish, tracking the upward evolution in carbon and gas prices. The price for the German power contract for delivery in 2020 rose by 2.1% to 47.30 EUR/MWh. The equivalent French contract was 1.5% up at 50.41 EUR/MWh.

 

European carbon prices continued to post gains for the third day in a row on Wednesday, stimulated by bullish gas markets. The price for the 2021-expiry contract increased by 1.3% to 22.62 EUR/tonne, despite a weak trading activity.

Daily (04.03.2021): Growing volumes of LNG supply pushed British gas prices lower on Wednesday

04/03/2021 10:27:00

Oil prices surged on Wednesday, supported by decreasing gasoline reserves in the United States and anticipation for the OPEC+ summit on Thursday. As such, Brent oil increased by 2.2% to $64.07 a barrel and WTI crude soared by 2.6% to $61.28 a barrel.

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UK's hydrogen future could involve both blue and green pathways

04/03/2021 08:45:00

The UK's hydrogen future could involve a mix of both blue and green production pathways, but it needs to get started or risk falling behind, panelists said March 3.

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China ‘installed half of new global offshore wind capacity in 2020’

04/03/2021 08:43:00

China accounted for half of all new global offshore wind capacity in 2020.

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