Daily (05.01.2018): WTI crude rose 0.6% to the highest level in 3 years

05/01/2018 10:43 Daily


Oil rose above $68 a barrel to its highest since December 2014 on Thursday after conflicts in Iran raised concerns about supply risks, with support also coming from OPEC-led production cuts and demand-boosting cold weather in the US. Brent crude ended 23 cents, or 0.3%, at $68.07 a barrel. Meanwhile, U.S. crude increased 4 cents to $61.67 and also touched its highest since May 2015.


British wholesale gas prices slightly rose on Thursday due to undersupply and higher gas-for-power demand because of reduced wind generation. NBO day-ahead gas contract traded 0.15 pence, or 0.3%, up at 52.65 p/therm. However, further along the curve, some prices declined. The February contract was down 0.8% at 54.24 p/therm.


European day-ahead power prices soared on Thursday as winter storms faded and wind power supply dropped, but the remainder of the market slipped on bearish sentiment driven by good supply fundamentals and warmer weather outlook. The price of German baseload power for day-ahead delivery jumped by 5.5 percent to 31.51 euros/MWh. The French equivalent contract traded almost 11% higher at 34.01 euros/MWh.

Further out on the curve, the German year-ahead delivery contract stood 35 cents lower at 36.62 euros/MWh, disregarding a firmer fuels prices environment. The equivalent French contract was 0.6% down at 41.39 euros/MWh.

EU carbon prices insignificantly decreased on Thursday as purchasers grew cautious ahead of next week’s recommencement of auctions and as wider financial markets continued to deal with new regulations. The carbon contract expiring in 2021 settled 0.6% down at 8.07 euros a tonne.

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.


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.


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.