Daily (30.08.2019): WTI futures jumped by 1.7% on Thursday after two new pipelines opened in the Permian Basin

30/08/2019 11:41 Daily

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Crude oil prices rose on Thursday, backed by a deep decline in U.S. crude inventories. The opening of two new pipelines in the Permian Basin also added to demand at WTI delivery hub. At the same time, the approach of Hurricane Dorian toward Florida supported prices raising fears that U.S. crude producers may slow output. As a result, Brent crude hiked by 1% to $61.08, while WTI futures climbed by 1.7% to $56.71 a barrel.

UK gas prices diverged on Thursday. Higher wind output and low demand put pressure on day-ahead prices, with NBP spot falling by 2% to 27.25 p/therm. On the curve, prices recorded gains supported by rising oil prices. As a result, the contract for delivery in Q1 2020 closed 1% higher at 51.33 p/therm.

 

European spot power prices fell on Thursday, due to a lower demand for power consumption in Germany and France ahead of the weekend. The price for the German day-ahead power contract declined by 7.1% to 41.34 EUR/MWh, while the equivalent French contract settled 6.4% lower at 39.94 EUR/MWh.

 

Meanwhile, forward electricity prices nudged up, tracking the bullish evolution of gas and carbon prices. The price for the German power contract for delivery in 2020 edged 0.3% higher at 47.61 EUR/MWh, while the equivalent French contract closed 0.4% up at 49.25 EUR/MWh.

 

EU carbon prices added momentum on Thursday, on optimism around China-U.S. trade negations. As a result, the 2019-expiry contract trade 1.7% higher at 26.46 EUR/tonne.

Russian gas exports helping Asia & Europe to transition to cleaner energy

27/01/2020 09:09:00

Russia will continue to be the biggest player on the global energy market with plans to increase natural gas deliveries to Europe and Asia, according to the head of the Russian Direct Investment Fund (RDIF) Kirill Dmitriev.

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Habitat Energy and Gresham House conclude UK’s largest merchant battery storage tie-up

27/01/2020 09:00:00

Habitat Energy has announced that it has successfully reached an agreement with the Gresham House Energy Storage Fund to optimize 74 MW of Energy Storage System (ESS) projects in the UK. The multi-year agreements comprise three existing projects: a 20-MW ESS in Wiltshire, a 5-MW ESS in Wolverhampton and the recently-commissioned 49-MW ESS project located on the Red Scar Business Park outside Preston which the Fund acquired on 31 December 2019.

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Daily (24.01.2020): Energy prices in a bearish mood on Thursday on worries about coronavirus, weaker demand and milder weather

24/01/2020 11:16:00

Oil prices ended lower on Thursday as the rapid spread of the new coronavirus could dent demand for black gold. Oversupply concerns, despite oil production disruption in Libya, also put pressure on prices.

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