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 (24.01.2020): Energy prices in a bearish mood on Thursday on worries about coronavirus, weaker demand and milder weather

24/01/2020 11:16:00

Oil prices ended lower on Thursday as the rapid spread of the new coronavirus could dent demand for black gold. Oversupply concerns, despite oil production disruption in Libya, also put pressure on prices.

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Exxon Prepares Sale Of UK, German Oil & Gas Assets

24/01/2020 11:06:00

As part of its global program to sell assets, ExxonMobil is about to launch a process to sell its upstream oil and gas operations in the UK and Germany, Bloomberg reported on Thursday, quoting people familiar with the plans.

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EBRD and EU to offer financial guarantees for renewable energy

24/01/2020 10:59:00

The European Bank for Reconstruction and Development (EBRD) has agreed on a new €50m programme of financial guarantees with the European Union (EU) to improve renewable energy development in the EU Neighbourhood regions.

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