Daily (23.04.2019): Oil prices surged by 2.9% on Monday after U.S. commitment to cancel waivers on Iranian crude imports

23/04/2019 10:50 Daily

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Crude oil prices jumped to a 2019 high on Monday, on prospects of a tighter supply raised by U.S. commitment to end all sanction waivers as of May 1 for the eight countries that import Iranian oil. Ongoing U.S. sanctions against Iran and Venezuela, as well as OPEC’s production cuts also supported prices. Brent crude soared by 2.9% to $74.04 a barrel, while WTI futures surged by 2.4% to $65.55 a barrel.

British gas prices remained constant on Monday. Three LNG tankers to arrive by April 23 could put more pressure on prices. The contract for delivery in July 2019 traded at 34.75 p/therm, while Q3 2019 delivery price settled at 37.55 p/therm. No trading activity was noticed over Easter holidays period.

 

The European spot power prices plummeted on Monday, due to warmer weather and sluggish demand during Easter holidays. The price for the German spot power contract slumped by 57.3% to 14.75 EUR/MWh, weighed by ample solar power output. Meanwhile, the equivalent French contract price tumbled by 11.1% to 26.94 EUR/MWh, amid steady nuclear availability.

 

Along the curve, electricity contracts remained untraded due to Easter holidays. 

 

EU carbon prices were flat on Monday, in the context of reduced trading activity following a long Easter holidays weekend. The contract expiring in 2021 closed at 27.63 EUR/tonne.

 

Daily (13.05.2019): EU carbon prices fell by 3.4% on Friday, amidst bearish technical indicators and weak auction demand

13/05/2019 11:07:00

Increased hopes for a trade deal between US and China pushed Brent crude price 0.3% higher to $70.62 a barrel on Friday. However, WTI futures was almost constant at $61.66 a barrel.

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Poland's Tauron considers selling some coal mines: sources

13/05/2019 08:49:00

State-run Polish utility Tauron may sell some of its loss-making coal mines to try to improve its financial situation, three sources familiar with the matter said.

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Azerbaijan cuts average daily oil production within OPEC agreement

13/05/2019 08:46:00

Azerbaijan has submitted the data on the daily oil production in the country for April 2019 to the joint technical commission of the OPEC monitoring committee, Trend reports referring to the country's Energy Ministry on May 11.

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