Daily (17.05.2019): Brent crude added 1.2% on Thursday, due to rising tensions in the Middle East

17/05/2019 09:37 Daily

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Oil prices extended momentum on Thursday, on rising tensions in the Middle East, as Saudi Arabia responded to its recent attacks on its crude oil firm by launching air strikes on the Houthi-held capital Sanaa. Brent crude rose by 1.2% to $72.62 a barrel, while WTI Crude increased by 1.4% to $62.87 a barrel.

British gas prices pointed losses for the fifth consecutive day on Thursday, due to lower gas consumption and an oversupplied system. Higher wind production also weighed on prices. As a result, NBP spot fell by 0.3% to 31.90 p/therm, while the contract for delivery in Q1 2020 traded 1.1% lower at 58.46 p/therm.

 

European day-ahead power prices reversed trend, adding gains on Thursday. The price for the German day-ahead power contract soared by 8.1% to 42.95 EUR/MWh, on falling wind output. Meanwhile, the equivalent French contract settled 6% higher at 42.11 EUR/MWh, due to ongoing construction activities at one of the nuclear reactors in the North of France that might disturb supply.

 

Along the curve, electricity prices also surged, tracking bullish oil prices. The price for the German power contract for delivery in 2020 edged 0.5% higher to 49.43 EUR/MWh, while the equivalent French contract ended 0.3% up at 52.36 EUR/MWh.

 

EU carbon prices were bearish on Thursday, due to weak auction activity and softer gas prices. The price for the 2020-expiry contract traded 1.6% lower at 25.81 EUR/tonne.

Daily (17.09.2019): Oil prices jumped by nearly 15% following the attacks on Saudi oil facilities

17/09/2019 11:00:00

Crude oil prices posted its biggest daily gain in over 30 years, following the attack on Aramco crude facilities which led to a in cut Saudi Arabia’s production and intensified concerns of retaliation in the Middle East. According to the news, Aramco may take months to resume normal output volumes. As a result, Brent crude surged by 14.7% to $69.02 a barrel, while WTI futures hiked by 14.6% to $62.90 a barrel.

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Belgian capacity market will lead to oversupply – Anode

17/09/2019 09:25:00

Belgium’s plans to launch a capacity market could lead to an oversupplied system, which will hurt profitability for new and existing power plants, said Anode Energie portfolio manager Kris Voorspools.

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Ofgem gives conditional nod to 220-MW Scottish interconnector plan

17/09/2019 09:19:00

UK energy regulator Ofgem said today it has given the thumbs-up to the construction of a 220-MW high-voltage transmission line that will connect the Orkney Islands with the Scottish mainland.

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