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Daily (17.10.2019): NBP spot slumped by over 8% on Wednesday amid firmer Norwegian exports and lower gas-for-power demand
Speculations about a potential extension of crude supply cuts by OPEC and its allies as of December led to a recovery in crude oil prices on Wednesday. The greenback’s slide coupled with short covering in anticipation of an industry report on U.S. crude inventories also contributed to the market rally. Still, concerns over tighter crude demand and expectations for higher crude stocks in the U.S. limited gains. Against that backdrop, Brent crude rose by 1.2% to 59.42 USD/bbl, while WTI futures advanced by 1% to 53.36 USD/bbl.
read more... 17/10/2019
French power output down over 1.5 GW as workers start protest over restructuring
A strike by employees at French utility EDF in protest against a plan to restructure the state-controlled company cut power generation at two nuclear reactors and two gas-fired power plants on Wednesday evening, company data showed.
read more... 17/10/2019
Baku-Tbilisi-Ceyhan pipeline delivers 3.3 bbl of oil
Baku-Tbilisi-Ceyhan (BTC) oil pipeline delivered 3.3 billion barrels of Azeri oil since it became operational in 2006, from Ceyhan marine terminal in the Adana province of southern Turkey to the international oil markets, according to data from Turkey's petroleum pipeline corporation BOTAS.
read more... 17/10/2019
Germany's EnBW takes FID on 180-MW zero-subsidy solar project
German utility EnBW Energie Baden-Wuerttemberg AG said today it would build what it says will be Germany’s largest subsidy-free solar park – an over 180-MW complex in the state of Brandenburg.
read more... 17/10/2019
Daily (16.10.2019): The EUAs spiked by around 6.4% on Tuesday after an optimistic breakthrough in Brexit process
Crude oil prices extended their fall on Tuesday, as the uncertain outlook for the Sino-American trade negotiations, coupled with indicators of an economic slowdown in China fueled worries over global crude demand. The high level of U.S. crude stocks added pressure on prices. Consequently, WTI futures lost 1.5% to close at $52.81 a barrel, while Brent crude traded 1% down at $58.74 a barrel. However, hopes for a timely Brexit deal and signals of possible oil supply cuts from OPEC reduced losses.
read more... 16/10/2019