Daily (15.03.2019): EU carbon prices rose by around 2% following Brexit votes

15/03/2019 09:56 Daily

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Oil prices diverged on Thursday. Brent crude decreased by 0.5% to 64.23 USD/bbl, as lower Industrial output data in China and political uncertainty around the prospect of a delayed Brexit weighed on prices. WTI futures rose by 0.6% to 58.61 USD/bbl, supported by an expected decline in U.S. crude inventories and output, as well as by U.S. sanctions on Venezuela and Iran.

British gas prices fell on Thursday due to weak gas-for-power demand caused by robust wind output. Moreover, stable Norwegian flows, steady domestic production and five LNG cargoes to arrive in the next seven days put more pressure on prices. Consequently, the NBP spot price dropped by 2.3% to 38.63 p/therm. On the curve, the 2020-delivery contract traded 1.8% down at 48.53 p/therm.

 

European day-ahead power prices plunged on Thursday, as warmer weather and stronger wind generation curbed demand. The German spot power price slumped by 22.5% to 25.21 EUR/MWh. The equivalent French contract price tumbled by 15% to 29.85 EUR/MWh, amid steady nuclear availability and increasing solar power supply. 

 

Along the forward curve, electricity prices posted gains, influenced by bullish coal and carbon markets. The German power contract for delivery in 2020 closed 1.2% higher at 47.33 EUR/MWh, while the equivalent French contract added 1% to end at 50.31 EUR/MWh.

 

European carbon prices surged on Thursday, after the ‘no deal’ Brexit was voted down, despite further concerns over UK’s withdrawal and lower gas prices. The contract expiring in 2021 hiked by 2.1% to 23.61 EUR/tonne.

 

Daily (15.07.2019): NBP spot surged by 4.7% on Friday, due to rising gas-for-power demand ahead of an expected 3-day hot spell

15/07/2019 10:29:00

Crude oil prices slightly rose on Friday, after a tropical storm in the Gulf of Mexico caused disruptions in the local production, while tensions between Iran and the West continued to mount. Consequently, Brent crude traded 0.3% higher at $66.72 a barrel. However, forecasts for a global oil supply glut from the International Energy Agency and OPEC limited the gains, with WTI futures remaining almost flat at $60.21 a barrel.

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Masdar, Armenia sign MoU for 500 MW of wind, solar capacity

15/07/2019 08:29:00

Armenian National Interests Fund (ANIF) on Friday signed a memorandum of understanding (MOU) with Abu Dhabi Future Energy Company, better known as Masdar, for the development of 500 MW of renewable energy capacity.

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Polskie LNG hits 1000 LNG tank trucks milestone at Swinoujscie

15/07/2019 08:27:00

Polish LNG terminal operator, Polskie LNG, said it has reached a milestone at the President Lech Kaczyński facility in Świnoujście.

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