Daily (14.06.2019): Oil prices hiked by 2.2% on Thursday, due to conflict in the Gulf of Oman

14/06/2019 09:34 Daily

news

Crude oil prices rose on Thursday, after two oil tankers were attacked in the Gulf of Oman stoking fears of a new conflict between Iran and the United States, the latter blaming Tehran for the incident. As a result, Brent crude increased by 2.2% to $61.31 a barrel, while WTI futures closed 2.2% higher at $52.28 a barrel.

British gas prices added momentum on Thursday, due to an undersupply in the system and a rise in oil market prices due to conflict in the Gulf of Oman. NBP day-ahead price rose by 3.6% to 30.65 p/therm, while the contract for Q1 20 delivery traded 0.3% up at 55.82 p/therm.

 

European prompt power prices added ground on Thursday supported by forecasts showing a drop in renewable power generation in France and Germany despite mild weather. The price for the German spot power contract soared by 8.1% to 41.62 EUR/MWh, while the equivalent French contract settled 6.4% higher at 34.50 EUR/MWh.

 

Forward electricity prices also added gains, amidst firmed carbon, oil and gas prices. The price for the German power contract for delivery in 2020 climbed by 1.3% to 47.81 EUR/MWh, while the equivalent French contract ended 1.4% higher at 50.86 EUR/MWh.

 

EU carbon prices nudged up on Thursday, reacting to a jump in oil prices, while the ongoing Brexit negotiations limited gains. The price for the 2020-expiry contract traded 0.6% higher at 25.25 EUR/tonne.

Daily (12.11.2019): French spot power price surged by over 16% on forecasts for higher demand amid colder weather

12/11/2019 11:17:00

Oil prices dropped on Monday due to a lack of direction in the U.S- China trade negotiations. Hence, Brent crude closed 0.5% lower at $62.18 a barrel, while WTI futures fell by 0.7% to $56.86 a barrel.

<READ MORE

Mongolia exports 32.3 million tons of coal as of first ten months

12/11/2019 10:35:00

Mongolia planned to export 42 million tons of coal in 2019. According to statistics of Mongolian General Customs Administration, Mongolia has exported 32.3 million tons of coal as of first ten months of 2019 which means there is a necessity to export 9.7 tons of coal in order to reach the goal. But the People’s Republic of China appears to maintain its coal import at 200-300 million tons so that the amount of coal export has a tendency to slow down in the last months of 2019 according to Bloomberg.

READ MORE

NTT to spend 600 billion yen on own grids for power business

12/11/2019 10:25:00

Nippon Telegraph and Telephone has decided to build its own power grids. Japan's largest telecom company plans, beginning in the year ending March 2021, to sell electricity from storage batteries at its roughly 7,300 office buildings around the country, mainly to hospitals and factories.

READ MORE