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Daily (31.07.2019): WTI futures hiked by over 2% on Tuesday, due to a potential Fed rate cut and lower U.S. crude stocks

Crude oil prices posted robust gains on Tuesday, on hopes that the ongoing two-day meeting of U.S. central bankers would result in an interest rate cut for the first time in over ten years. Prices were also boosted by expectations that the U.S. crude stocks might have dropped for the seventh consecutive week. In addition, persistent supply concerns in the Strait of Hormuz lent more support to prices. Consequently, Brent crude rose by 1.6% to $64.72 a barrel, while WTI futures surged by 2.1% to $58.05 a barrel.

read more... 31/07/2019

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Daily (30.07.2019): NBP spot dropped by 2.4% on Monday, due to stronger Norwegian flows and weak demand

Crude oil prices inched up on Monday, amid expectations that U.S. Federal Reserve might lower the borrowing costs this week for the first time in over a decade. Ongoing supply concerns around the Strait of Hormuz also supported prices. Still, on demand side, reduced hopes for a trade deal between the U.S. and China before the 2020 U.S. election, limited gains. As a result, Brent crude traded 0.4% higher at $63.71 a barrel, while WTI futures climbed by 1.2% to $56.87 a barrel.

read more... 30/07/2019

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Developers of Viking Link award EUR 1.1bn worth of contracts

The developers of the 1,400-MW Viking Link interconnector between Denmark and the UK today announced they will award contracts worth a total of EUR 1.1 billion (USD 1.23bn) for the supply of cables and converter stations as part of the project.

read more... 24/07/2019

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Daily (23.07.2019): European spot power prices soared by over 32% on Monday, due to an expected heatwave in the region

Crude oil prices strengthened on Monday on concerns for possible supply disruptions in the Middle East after Iran captured a British tanker last Friday. As a result, Brent crude rose by 1.3% to $63.26 a barrel, while WTI futures added 1% to settle at $56.22 a barrel.

read more... 23/07/2019

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Siemens Gamesa scoops record 1.7-GW order for US offshore wind

Siemens Gamesa Renewable Energy SA has received a conditional order from ├śrsted A/S and Eversource Energy to supply 1,714 MW of turbines for three offshore wind farms in the US.

read more... 22/07/2019

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