Daily energy Overview, Thursday, June 30, 2011

30/06/2011 10:44 Electricity Market

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U.S. and Brent crude oil futures increased on Wednesday, on data indicating a sharp weekly drop in crude stockpiles and as the dollar index stayed weak following the approval of an austerity plan by the Greek parliament. U.S. crude for August delivery settled at 94.77 dollars a barrel, up 1.88 dollars, after a trading range between 92.66 and 95.84 dollars. ICE Brent crude for August delivery increased to 112.40 dollars a barrel, after trading from 108.78 to 112.40 dollars.

European prompt power prices eased on Wednesday on forecasts for a friendly weather after having hit near record highs for June earlier this week. German benchmark year-ahead baseload power settled at 56.65 euros per MWh, down 0.15 euros day on day, while similar French contract valued 55.85 euros, down 0.40 euros. British wholesale gas prices settled higher on Wednesday on continuous increase in oil prices, while prompt contracts were pushed down by weak supply from the Netherlands and liquefied natural gas terminals. Gas prices for winter delivery 2011-2012 increased to 70.05 pence per therm, up 0.40 pence. European carbon prices eased on Wednesday afternoon, dropping below 13 euros despite the approval by the Greek parliament of an austerity plan to help avoid the debt crisis. By 15:23 GMT, front-year EU allowances futures traded as low as 12.88 euros, after opening the session at 13.55 euros.

Daily (14.10.2019): Brent crude climbed by over 2.4% on Friday, following an Iranian tanker explosion in the Red Sea

14/10/2019 11:48:00

Crude oil prices soared on Friday, bolstered by rising tensions in the Middle East following a missile attack on an Iranian tanker. Hence, Brent crude traded 2.4% up at $60.51, while WTI futures rose by 2.2% to $54.70 a barrel.

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Repsol sets up renewables unit

11/10/2019 16:01:00

Spanish oil business Repsol has established a renewable energy subsidiary, Repsol Renovables and plans to have 4.5 GW of clean energy generation capacity in 2025. And the fossil fuel giant claims it already has a clean energy pipeline in place sufficient to hit 90% of that ambition.

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Chongqing gas mine plans to build 10 billion square gas field

11/10/2019 15:58:00

Chongqing Daily reporter learned that the gas mine is speeding up the shale gas business and tapping the potential of the old area, and plans to stop the decline and pick up natural gas production by 2020, with natural gas production exceeding 5 billion square meters by 2025 and 8 billion square meters by 2035 and striving to reach 10 billion square meters.

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