Daily (14.10.2019): Brent crude climbed by over 2.4% on Friday, following an Iranian tanker explosion in the Red Sea

14/10/2019 11:48 Daily

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Crude oil prices soared on Friday, bolstered by rising tensions in the Middle East following a missile attack on an Iranian tanker. Hence, Brent crude traded 2.4% up at $60.51, while WTI futures rose by 2.2% to $54.70 a barrel.

British day-ahead wholesale gas prices jumped on Friday on expectations for a rise in gas demand. NBP spot closed 4.7% higher at 23.20 p/therm. On the curve, however, prices lost ground as the UK gas gas system is still oversupplied. The contract for delivery in Summer 2020 fell by 0.6% to 44.04 p/therm.

 

European spot electricity prices extended their fall on Friday. The French prompt power price dropped by 10.4% to 24.99 EUR/MWh due to milder temperatures. In the meantime, the German equivalent contract plunged by 24% to 19.73 EUR/MWh amidst huge wind output and decreasing demand.

 

Further on the curve, power prices strengthened, tracking higher carbon and gas prices. The German Cal 2020 delivery contract advanced by 2.8% to 48.27 EUR/MWh, while the French equivalent contract was 2.7% higher at 51.26 EUR/MWh.

 

European carbon prices jumped on Friday, supported by stronger oil prices and growing optimism over a potential Brexit deal. The price for the contract expiring in 2020 hiked by 5% to 24.63 EUR/tonne.

Germany's EEG levy surplus decreased to €1.71 billion in November

12/12/2019 08:53:00

The German EEG levy account, which funds Germany’s renewable energy programs, had a cumulative surplus of €1.71 billion ($1.89 billion) at the end of November. This is a small decrease of around €24 million compared to October.

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Japan lines up Russian Arctic oil investment

12/12/2019 08:50:00

Japan’s government and its state-owned oil group have emerged as leading contenders for a stake in Rosneft’s $157bn Arctic project.

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Daily (11.12.2019): UK month-ahead gas price down around 2% due to a potential Kiev-Moscow new gas transit deal

11/12/2019 11:07:00

Crude oil prices finished higher on Tuesday, getting a boost after OPEC and its allies decided to deepen oil production cuts by 500,000 bpd, but gains were kept in check as U.S.-China war still puts pressure on demand. Brent crude rose by 9 cents, or 0.1% to settle at $64.34 a barrel on ICE Futures Europe.. WTI crude increased by 22 cents, or 0.4% to close at $59.24 a barrel on NYMEX.

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