Daily (31.05.2019): Oil prices fell on Thursday to a two-months low, due to high crude inventories and global economic concerns

31/05/2019 09:41 Daily

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Crude oil prices fell on Thursday to two-months low, due to a smaller-than-expected decline in U.S. crude inventories and concerns over a global economic downturn influenced by the China-US trade war. Brent crude plunged by 3.7% to $66.87 a barrel, while WTI futures settled 3.8% down at $56.59 a barrel.

British gas prices lost ground on Thursday, amidst warmer weather and high LNG arrivals. NBP spot plummeted by 4.8% to 27.48 p/therm, while the contract for delivery in Q4 2019 ended 1.2% lower at 50.14 p/therm.

 

European day-ahead power prices skyrocketed on Thursday, on expectations of increasing demand after the holidays in the region. The price for the German day-ahead power contract soared by 122.6% to 35.81 EUR/MWh, while the equivalent French contract closed 75.3% higher at 33.82 EUR/MWh.

 

Along the curve, electricity prices declined on lower carbon , gas and oil prices. The price for the German power contract for delivery in 2020 fell by 1.1% to 48.25 EUR/MWh, while the equivalent French contract traded 1% down at 51.29 EUR/MWh.

 

EU carbon prices lost momentum on Thursday, in a quiet session due to holidays. The price for the 2021-expiry contract traded 0.9% lower at 25.87 EUR/tonne.

Daily (16.09.2020): Oil prices ended higher on Tuesday as Hurricane Sally disrupted Gulf of Mexico energy production

16/09/2020 10:57:00

Crude oil futures rebounded on Tuesday, buoyed by rising Chinese industrial production and Hurricane Sally which curbed the supply in the Gulf of Mexico. However, bearish forecasts for the energy demand released by the IEA helped to limit the upside for oil prices. Hence, Brent crude for November delivery soared by 92 cents, or 2.3%, to settle at $40.53 a barrel. Meanwhile, U.S. WTI crude for October delivery climbed by $1.02, or 2.7%, to settle at $38.28 a barrel. Both contracts fell on Monday.

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An investor group with a combined €33 trillion ($39.1 trillion) in assets has called on the European Union to set 2030 carbon-emission reduction goals at 55%, in an effort to support low-carbon economy investments.

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