Daily (02.07.2018): WTI crude surged by 1% on Monday to hit a peak since November 2014

02/07/2018 13:50 Daily

news

Oil prices climbed on Friday as U.S. sanctions against Iran at a time of escalating demand will most likely lead to a decline of crude volumes in the global market. Brent crude traded 2% higher to $79.44 a barrel. WTI crude hiked by 1% to hit its highest since November 2014 at $74.15 a barrel. 

An undersupplied system and the relaunch of exports to Belgium following a scheduled outage boosted several UK gas prices on the curve on Friday. August 2018 delivery contract surged by 2.9% to 55.24 p/therm. 


Meanwhile, forecasts for higher temperatures and lower demand weighed down on the NPB spot contract, which traded 2.8% lower at 52.9 p/therm.


Higher wind generation put pressure on European spot electricity prices on Friday. German spot power price dropped by 8.3% to end at 40.66 Eur/MWh, while the French equivalent contract settled 5.8% lower at 43.52 Eur/MWh.


However, electricity prices on the curve edged slightly higher on Friday tracking bullish coal and oil markets. The German Cal’19 contract gained 0.6% at 43.39 Eur/MWh, and the French next-year delivery contract ended 0.9% up at 48.25 Eur/MWh.


EU carbon prices were relatively stable on Friday.  The carbon contract expiring in 2021 closed 0.1% down at 16.00 euros a tonne, posting a 0.8% weekly loss. 
 

Daily (11.10.2018): WTI crude dropped by 2.4% on Wednesday as forecasts for lower economic growth curbed the demand for oil

11/10/2018 11:01:00

Oil crude prices slipped on Wednesday as the International Monetary Fund (IMF) mitigated its global growth projections in its latest World Economic Outlook report, reducing the demand for oil. However, the losses were capped as Hurricane Michael led to the shutdown of roughly 40% of Gulf of Mexico’s crude oil production. Brent crude closed at $83.09 a barrel, representing a 2.3% loss. WTI crude tumbled by 2.4% to settle at $73.17 a barrel.

<READ MORE

World Bank will not support new coal power plant in Kosovo

11/10/2018 09:03:00

President of the World Bank Group Jim Yong Kim confirmed that the international organization will not support a coal power plant in Kosovo.

READ MORE

Novatek Announces Major Offshore Gas Find in Russian Arctic

11/10/2018 08:58:00

Russian gas and LNG firm Novatek announced Wednesday that it has found a major new gas field in the Gulf of Ob, just off the Yamal Peninsula in the Russian Arctic.

READ MORE