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

05/01/2018 10:43 Daily

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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 (09.01.2019): German spot power contract was 15.9% higher on Tuesday on low wind output

09/01/2019 11:48:00

The strong upward evolution in oil prices on Tuesday was caused mainly by OPEC-led crude production cuts. The bullish trend was also backed by signs of progress in U.S.-China trade talks. Officials of the world’s two biggest economies expressed optimism on resolving the dispute. Brent crude soared by 2.4% to $58.72 a barrel, while WTI crude jumped by 2.6% to $49.78 a barrel.

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Renewables power in German public supply tops 40% in 2018

09/01/2019 09:16:00

Renewables were responsible for 40.4% of Germany’s net electricity production on the public grid last year and ranked as the second largest power generation source, a new report shows.

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BP approves $1.3bn expansion of Atlantis oil field in Gulf of Mexico

09/01/2019 09:10:00

BP has approved the $1.3bn phase 3 development of the Atlantis oil field located in deepwater Gulf of Mexico, offshore US.

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