Daily (31.05.2019): Oil prices fell on Thursday to a two-months low, due to high crude inventories and global economic concerns

31/05/2019 09:41 Daily

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Crude oil prices fell on Thursday to two-months low, due to a smaller-than-expected decline in U.S. crude inventories and concerns over a global economic downturn influenced by the China-US trade war. Brent crude plunged by 3.7% to $66.87 a barrel, while WTI futures settled 3.8% down at $56.59 a barrel.

British gas prices lost ground on Thursday, amidst warmer weather and high LNG arrivals. NBP spot plummeted by 4.8% to 27.48 p/therm, while the contract for delivery in Q4 2019 ended 1.2% lower at 50.14 p/therm.

 

European day-ahead power prices skyrocketed on Thursday, on expectations of increasing demand after the holidays in the region. The price for the German day-ahead power contract soared by 122.6% to 35.81 EUR/MWh, while the equivalent French contract closed 75.3% higher at 33.82 EUR/MWh.

 

Along the curve, electricity prices declined on lower carbon , gas and oil prices. The price for the German power contract for delivery in 2020 fell by 1.1% to 48.25 EUR/MWh, while the equivalent French contract traded 1% down at 51.29 EUR/MWh.

 

EU carbon prices lost momentum on Thursday, in a quiet session due to holidays. The price for the 2021-expiry contract traded 0.9% lower at 25.87 EUR/tonne.

Daily (19.07.2019): NBP spot slumped by 4% on Thursday, due to increased supply and weak demand

19/07/2019 10:07:00

Crude oil prices continued their downward evolution on Thursday, influenced by lower U.S. equities markets. Prices were also weighed by an expected rise in the U.S. offshore oil output, as platforms have been returning to service after the Hurricane Barry passed through the Gulf of Mexico last week. Brent crude sank by 2.7% to $61.93 a barrel, while WTI futures dipped by 2.6% to $55.30 a barrel.

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Eneco inks PPA for 383-MW nearshore Dutch wind farm

19/07/2019 09:01:00

Dutch utility Eneco on Thursday unveiled a power purchase agreement (PPA) for the entire output of the 382.7-MW Fryslan nearshore wind park that is being built in Friesland, the Netherlands.

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SOCAR expands its gas pipeline network in Georgia

19/07/2019 08:54:00

SOCAR Georgia Gas company (Georgian subsidiary of Azerbaijan’s state oil company SOCAR), has increased the length of its gas pipeline network in the neighboring country, Trend reports with reference to the Georgian government.

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