Daily (20.08.2019): Brent crude surged by around 2% on Monday on worries about global oil supplies

20/08/2019 11:19 Daily

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Crude oil prices rose on Monday after Yemen’s Houthi forces used a drone to attack an oilfield in eastern Saudi Arabia on Saturday, threatening global oil supplies. Brent crude added $1.1, or 1.9% to settle at $59.74 a barrel. WTI futures gained $1.34, or 2.4% to end at $56.21 a barrel.

A mixed trend in gas prices was noticed on Monday. NBP spot edged 0.2% higher at $26.45 p/therm, on prospects for a drop in wind power generation and stronger gas-for-power demand. Meanwhile, prices on the curve were bearish due to an oversupplied system. The contract for delivery in Q4 19 closed 2.6% lower at 42.44 p/therm.

 

European power prices were bullish on Monday. Prompt electricity prices increased due to lower wind output and rising demand. The German day-ahead power price boosted by 51.8% to 39.80 euros/MWh. At the same time, the French spot electricity price jumped by 43.4% to 34.60 euros/MWh.

 

Further along the curve, contracts had an upward evolution on Monday, tracking gains in carbon and fuels market. The German year-ahead power contract settled 0.6% higher at 48.77 euros/MWh. The French equivalent contract ended 0.3% up at 50.42 euros/MWh.

 

EU carbon prices rebounded from earlier losses on Monday, due to stronger auction demand. The 2019-expiry contract traded 2.3% higher at 26.56 EUR/tonne.

Daily (22.01.2020): Brent crude down 1% on Tuesday as robust global supply reduced fears of Libyan output cuts

22/01/2020 10:20:00

Crude oil prices drew back on Tuesday as robust supply worldwide counterweighed reports indicating that Libyan output would decline.

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Romania awards contract for Cernavoda extension

22/01/2020 09:05:00

Candu Energy, a member of Canada's SNC-Lavalin Group, has won a USD10.8 million contract from Societatea Nationala Nuclearelectrica (SNN) for engineering analyses and assessments on unit 1 of the Cernavoda nuclear power plant in Romania. The work aims to extend the operation of the unit by an additional 35,000 hours.

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Consultancy probes Irish Sea for offshore wind

22/01/2020 08:59:00

Gavin and Doherty Geosolutions will provide geotech analysis to inform foundation options

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