Daily (02.11.2018): WTI crude posted a 17% loss from highs hit in early October to settle at $63.69 a barrel on Thursday

02/11/2018 10:56 Daily

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Crude oil prices extended losses on Thursday, as crude production rose by over 2 million barrels per day during the last 12 months. Moreover, increased concerns over a potential slowdown in global growth amid continuous trade tensions between U.S. and China put more pressure on prices. 

Consequently, Brent crude dropped by 3.4% to $72.89 a barrel. WTI crude was 2.5% down at $63.69 a barrel, a low not seen since April, or a 17 percent loss from peaks hit at the beginning of October. 

 

British wholesale gas prices were strongly bearish on Thursday, due to an oversupplied system after the arrival of two LNG vessels. Furthermore, robust flows from Vesterled pipeline weighed down on prices. The NBP spot gas contract traded 2.2% down at 61.20 p/therm. On the forward curve, Summer 2019 delivery price tumbled by 4.1% to 55.5 p/therm.

 

On Thursday, European spot power prices were bullish, because of cooler weather and increased demand. The French baseload price for Friday delivery soared by 21.9% to 65.98 euros/MWh. In the meantime, the German equivalent contract traded 14.3% higher at 54.77 euros/MWh.

 

Along the forward curve, power prices tracked the bearish trend in the carbon market. The electricity price in France for delivery in 2019 slipped by 1% to 53.12 euros/MWh. The German 2019-delivery contract closed 2.4% lower at 48.35 euros/MWh.

 

European carbon prices significantly fell on Thursday around the 15-euro level, reaching new four-month lows due to a weaker energy complex. The 2020 expiry carbon contract closed 4.8% down at 16.26 euros a tonne, posting around 18% loss week-on-week.
 

Daily (18.03.2019): European spot prices tumbled by over 30% on Friday due to strong renewables generation

18/03/2019 10:30:00

Oil prices edged lower on Friday as rising crude U.S. weekly production and worries about global economy put pressure on the market. Brent crude slipped by 0.1% to $67.16 a barrel, while WTI futures traded 0.2% lower at $58.52 a barrel.

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Gazprom starts on Serbian CCGT

18/03/2019 09:06:00

Gazprom has started the construction of a 200 MW combined cycle gas turbine (CCGT) power plant in Serbia.

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Bulgaria eyes to receive additional gas from Azerbaijan

18/03/2019 09:00:00

Bulgaria is interested in additional gas supplies from Azerbaijan, Bulgarian Prime Minister Boyko Borisov told reporters, Azernews informed. Borisov noted that during the meeting with President of Azerbaijan Ilham Aliyev, the issue of the construction of an interconnector for connecting to the TAP for the delivery of 1 billion m3 of gas to Bulgaria was discussed.

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