Daily (21.06.2019): Brent crude price jumped by 4.3% due to a potential military conflict between US and Iran

21/06/2019 11:00 Daily

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Oil prices surged on Thursday on worries about a conflict between Washington and Teheran, after Iran shot down a U.S. military drone. Prices were also backed by expectations that Fed would cut interest rates and U.S inventories would weaken. Brent crude rose by 4.3%, or $2.63, to $64.45 a barrel. At the same time, WTI futures added $3.31, or 6.2% to end at $57.07 a barrel.

 

Most of the British gas prices soared on Thursday due to an undersupplied system. The Winter 2019 delivery contract settled around 1% higher at 50.21 p/therm. However, NBP spot price lost 0.15 pence, or 0.6%, to close at 27.00 p/therm, as higher wind generation weighed on gas-for-power demand.

 

European power prices were mixed on Thursday. German spot price gained 6.3% to trade at 38.69 euros/tonne, on forecasts for weaker wind and solar generation. At the same time, the French day-ahead power price lost 2.2% to end at 33.89 euros/MWh, as consumption is likely to decline ahead of the weekend.

 

Further along the curve, European power prices were almost flat. The German Cal 2020 delivery contract inched down by 0.2% at 46.89 euros/MWh. The French equivalent contract traded slightly lower at 49.97 euros/MWh.

 

European carbon prices were bullish on Thursday due to the recent selling pressure. However, gains were limited by weaker demand. The 2020-expiry contract inched 0.6% higher at 25.41 euros/tonne.

Daily (18.07.2019): French spot power price plunged by over 9% on Wednesday, amid stronger wind generation and falling consumption

18/07/2019 11:43:00

Crude oil prices extended losses on Wednesday, following a higher-than-expected rise in the U.S. refined product inventories. At the same time, official data also showed that U.S. crude inventories fell more than anticipated. Against that background, Brent crude traded 1.1% lower at $63.66 a barrel, while WTI futures dropped by 1.5% $56.78 a barrel.

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Polish LNG terminal receives 64th cargo

18/07/2019 08:20:00

Polish liquefied natural gas import facility the President Lech Kaczyński terminal in Świnoujście has received a new cargo on Tuesday, July 16.

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France's Akuo Energy, IEL Energie sign MoU to develop wind farm in Serbia

18/07/2019 08:18:00

France's Akuo Energy and IEL Energie have signed a memorandum of understanding (MoU) with Serbia's autonomous province of Vojvodina for the construction of the Basaid wind farm, Serbian energy minister Aleksandar Antic said.

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