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. 

Eneco signs PPA for 487-MW Belgian offshore wind project

12/12/2018 09:16:00

Dutch utility Eneco, one of the shareholders in the 487-MW SeaMade cluster of offshore wind projects in Belgian waters, will buy the entire output of the complex, it said on Tuesday.


Novatek’s $27bn Yamal LNG project reaches full capacity

12/12/2018 09:12:00

Novatek and Total said that the $27bn Yamal liquefied natural gas project (Yamal LNG project) in Russia has reached full capacity following the launch of the third LNG train.


Reliance on coal makes Czechs Europe's fifth biggest CO2 polluters

12/12/2018 09:03:00

Despite the latest UN report on climate change, which warns that global warming will be far greater than expected, surveys suggest Czechs don’t feel personally responsible for the problem.