Daily (29.12.2017): German spot power price tumbled by 36% on forecasts of higher wind generation and lower demand

29/12/2017 11:11 Daily

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Oil prices rose on Thursday, staying close to 2-1/2-year peaks after data indicated strong demand for crude imports in China and on increased U.S. refining activity that drew more crude from inventories.

U.S. West Texas Intermediate (WTI) crude futures surged by 20 cents to $59.84 a barrel. Brent crude futures soared by 28 cents to $66.72 a barrel.

 

British day-ahead gas prices on Thursday despite a cold snap, boosting demand for gas for heating. Day-ahead gas price dropped by 0.15 pence to 55.75 p/therm. Further out on the curve, gas contract for January delivery nudged higher. 

 

European spot power prices for day-ahead delivery dipped on Thursday, pressured by forecasts for higher wind power generation and a predicted decline in demand before the weekend. The German baseload electricity contract for Friday delivery tumbled more than 35 percent, or 11.62 euros to 20.87 euros/MWh. The French spot price for Friday delivery slipped almost 8.4 percent, or 3.91 euros to 42.84 euros/MWh.

 

Along the forward curve, the year-ahead contracts were flat with little action. 

 

Carbon emissions allowances for December 2018 expiry rose 0.49 percent to 8.21 euros a tonne. 

In 2018, Gazprom plans to invest $3.2 billion in TurkStream

16/01/2018 14:32:00

Russian major gas firm Gazprom plans to fund an amount of 182.4 billion roubles ($3.2 billion) this year in TurkStream natural gas pipeline project.

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EBRD backs France’s Urbasolar plant in Kazakhstan

16/01/2018 13:50:00

The European Bank for Reconstruction and Development (EBRD) is backing French energy firm’s Urbasolar SAS in its intention to construct a solar power plant in Kazakhstan.

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Daily (16.01.2018): Brent crude settled close to a 3-year peak above $70 a barrel on tightening supplies

16/01/2018 11:24:00

Oil prices jumped to near a three-year peak above $70 a barrel on Monday on signs that output reductions by OPEC and Russia are tightening supplies, although analysts warned of a "red flag" due to surging U.S. production.

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