Daily (20.04.2018): UK spot gas price surged by 4.5% on expectations of lower flows from Norway

20/04/2018 14:15 Daily

news

Oil prices continued their bullish trend on Thursday, being backed by steady drawdowns in global supply and Saudi Arabia’s wish to rise more the prices.

Brent crude edged $0.30 up, or around 0.4%, to settle at $73.78 per barrel. U.S. West Texas Intermediate (WTI) crude futures declined by about 0.3 percent to 68.29 a barrel.


British wholesale gas prices surged on Thursday as lower wind power output and weaker flows from Norway were expected. British day-ahead gas price soared by 2.23 pence, or 4.5%, to settle at 51.33 p/therm. Q3 2018 delivery contract closed 2.5% higher at 49.67 p/therm.

 

 

European prompt power prices softened slightly on Thursday on forecasts for a rise in temperatures and lower demand. German baseload contract for day-ahead delivery lost 3% to end at 38.63 euros a megawatt hour (MWh), while French spot price fell by 3% to 39 euros/MWh.

On the year-ahead curve, Germany’s Cal’19 price jumped by 1.8 % to 38.70 euros/MWh. The French equivalent contract gained 1.6% at 43.43 euros/MWh.

 

EUAs slumped on Thursday despite a stronger auction. The carbon contract expiring in 2019 closed 3% down at 13.62 euros a tonne.

Gas pipeline project is one of top priority projects for EU – Minister Joe Mizzi

12/10/2018 09:29:00

The Malta-Sicily gas pipeline is one of the top priority projects for the EU as it aims at ending Malta’s gas isolation, said Minister for Energy and Water Management Joe Mizzi during the World Energy Summit currently being held in Milan, Italy.

<READ MORE

Fortum JV bolsters Russian regional ties

12/10/2018 09:19:00

Finnish energy company Fortum and local partner Rusnano have signed a cooperation agreement with the government of Kalmykia to build up to 450MW of wind power in the Russian region.

READ MORE

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.

READ MORE