Daily (15.09.2017): Brent hit a five-month high settling at $55.47 a barrel

15/09/2017 10:50 Daily


Oil prices hiked on Thursday, with Brent closing at a five-month high, after several reports predicted a further tightening of the market as fuel demand increased. 

Brent crude price gained 31 cents, or 0.6 percent, to end at $55.47 a barrel, its peak level since April 13. U.S. West Texas Intermediate crude settled 59 cents, or 1.2 percent, up at $49.89, its highest close since July 31.

British spot gas prices dropped on Thursday due to an oversupplied system. Further along the curve, gas contracts soared following increased European gas, coal, carbon and power prices. NBP spot price fell 0.7% to end at 47.35 p/therm, while October delivery contract traded 1% higher at 46.47 p/therm.

European spot power prices increased on Thursday encouraged by a sharp decline in wind power production, while contracts for next-year delivery prolonged their rally to a fresh 3-1/2 year high tracking gains in fuel and carbon prices. 

The German Cal'18 benchmark contract hit its highest level since February 2014 in early trade, surging by 1.9% to end at 36.55 euros/MWh. The less liquid French equivalent contract added 1.6% to 42.78 euros/MWh.

In the spot market, the baseload German prompt electricity price for Friday delivery jumped 54 percent to close at 35.03 euros/MWh. The French spot hiked by 29% to 37.91 euros/MWh.

European carbon contracts traded slightly lower on Thursday afternoon to end flat after a volatile session that saw prices hike by almost 9% to a fresh 20-month high on an increasing energy complex and ETS reform talk progress. 

Business alliance inks hydro deal and announces green energy target

06/12/2017 14:41:00

A business alliance inked a hydropower agreement as part of its new objective to produce 1GW of renewable electricity by 2020.


French energy group signed an agreement with S. Korea on decommissioning nuclear reactors

06/12/2017 13:45:00

French nuclear firm New AREVA and Korea Hydro & Nuclear Power (KHNP) inked an accord aiming to reinforce their collaboration in the dismantling and cleanup of nuclear reactors.


Daily (06.12.2017): EU carbon prices fell 1.6% on weaker auction on Tuesday

06/12/2017 11:22:00

Oil prices rose on Tuesday, buyout by strong demand, expectations of a decline in U.S. crude inventories and an OPEC-led agreement to extend oil production cuts. Brent crude futures ended 41 cents, or 0.7 percent, up at $62.86 a barrel, while U.S. West Texas Intermediate crude increased by 15 cents, or 0.3 percent, to $57.62 a barrel.