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

02/07/2018 13:50 Daily


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. 

UK experts back subsidies for mini nuclear power plants

09/08/2018 08:49:00

The UK Government should provide subsidies to developers of mini nuclear power stations like it did with the offshore wind industry.


Shell drills duster in Norwegian Sea

09/08/2018 08:39:00

Oil company Shell has failed to find hydrocarbons at its wildcat well 6304/3-1 in the Norwegian Sea.


Daily (08.08.2018): German electricity spot price tumbled by more than 13% on Tuesday, due to high wind output

08/08/2018 11:38:00

Oil crude prices continued to rise on Tuesday, on concerns over the global oil supplies as U.S. sanctions imposed on Iranian exports have been revived. Brent crude added 1.2% to close at $74.65 a barrel. Meanwhile, WTI crude edged 0.2% higher at $69.17 a barrel.