Daily (02.08.2019): Oil prices plunged by over 7% on Thursday, as Donald Trump announced an extra 10% tariff on Chinese goods

02/08/2019 11:23 Daily

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Crude oil prices plummeted on Thursday to its lowest levels in about seven weeks, as U.S. President Donald Trump plans to implement an additional 10% tariff on Chinese imports from the September 1 of this year. Consequently, Brent crude traded 7.2% lower at $60.50 a barrel, while WTI futures declined by 7.9% to $53.95 a barrel.

British gas prices added ground on Thursday, due to maintenance works at several U.K gas sites, which could eventually reduce flows into the systems. NBP spot climbed by 10.3% for the day, closing at 31.50 p/therm. On the curve, the contract for delivery in Q4 2019 traded 5.2% higher at 47.20 p/therm.

 

European prompt power prices were down on Thursday as demand for power eased ahead of the weekend. The price for the German day-ahead power contract fell by 2.2% to 43.70 EUR/MWh. At the same time, the equivalent French contract settled 1.6% lower at 41.31 EUR/MWh, on modest wind and solar output.

 

Meanwhile, forward electricity prices added momentum tracking higher gas and carbon prices. The price for the German power contract for delivery in 2020 surged by 2% to 52.25 EUR/MWh, while the equivalent French contract traded 1.8% higher at 53.42 EUR/MWh.

 

EU carbon prices soared on Tuesday, as traders engage in buying positions ahead a month of limited auction volumes. As a result, the price for the 2021-expiry contract traded 5% higher at 30.29 EUR/tonne.

Daily (20.08.2019): Brent crude surged by around 2% on Monday on worries about global oil supplies

20/08/2019 11:19:00

Crude oil prices rose on Monday after Yemen’s Houthi forces used a drone to attack an oilfield in eastern Saudi Arabia on Saturday, threatening global oil supplies. Brent crude added $1.1, or 1.9% to settle at $59.74 a barrel. WTI futures gained $1.34, or 2.4% to end at $56.21 a barrel.

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EBRD Finances Private-to-Private Solar Project in Jordan

20/08/2019 08:25:00

The European Bank for Reconstruction and Development together with its partners is supporting a pioneering energy project in Jordan with a financial package of up to $35 million. The project will enable the telecom operator Orange Jordan to cover part of its demand with clean energy generated in solar plants.

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Belene project attracts five expressions of interest

20/08/2019 08:21:00

Five companies have expressed interest in Bulgaria’s invitation for strategic investment in the construction of Belene nuclear power plant on the Danube River near the Romanian border. According to national newspaper 24 Chasa, China National Nuclear Corporation, Framatome, General Electric, Korea Hydro and Nuclear Power and Rosatom have all applied for the selection process.

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