Latest news
Daily (20.09.2019): NBP spot fell by nearly 3% on Thursday, as low wind and reduced French power output boosted gas-for-power demand
Crude oil prices turned bullish on Thursday, as traders started to doubt whether Saudi Arabia will be able to fulfill its pledge to restore lost production by September 30 and its capacity by November 30 after last weekend’s attack. Geopolitical risks were the main driver in the price rise, as the market await further reactions from Saudi Arabia and the U.S., which strive at building a peaceful coalition rather than engaging in a military action. A weaker U.S. dollar also supported prices. Brent crude rose by 1.3% to 64.40 USD/bbl, while WTI futures were rather steady at 58.13 USD/bbl.
read more... 20/09/2019
Bulgaria signs 1.1 billion-euro deal to build TurkStream extension
Bulgaria’s national gas transmission company Bulgartransgaz and Saudi-led engineering consortium Arkad have signed a construction contract worth 1.1 billion euros to extend Russia’s TurkStream pipeline which will deliver Russian gas to Europe bypassing Ukraine, the Associated Press has reported.
read more... 20/09/2019
Gas discovery in the Norwegian Sea
Equinor and its partners AkerBP and Wellesley Petroleum have found gas in the Ørn exploration well south-west of the Marulk field in the Norwegian Sea.
read more... 18/09/2019
Daily (13.09.2019): Welding anomalies at French nuclear reactors supported spot gas and power prices across Europe
Crude oil prices had another bearish day, after Donald Trump denied the possibility on an interim U.S.-China trade deal. Comments by OPEC+ alliance that deeper cuts would not be decided before a meeting in December and ECB’s decision to cut its deposit rate also weighed on prices. Hence, Brent crude dropped by 0.7% to close at $60.38 a barrel, while WTI futures lost 1.2% to settle at $55.09 a barrel.
read more... 13/09/2019
Daily (11.09.2019): A strong rise in European gas and power prices on Tuesday following several bullish news
The abrupt firing of the combative U.S. national security advisor John Bolton raised a softer oil supply outlook, leading to a decline in oil prices on Tuesday. The news spurred speculations that U.S. might head for a potential de-escalation in tensions with Iran and an improved trade with Venezuela. However, gains were capped by earlier assurances of continued output cuts from OPEC and its allies. Consequently, WTI futures fell by 0.8% to 57.40 USD/bbl, while Brent crude edged down by 0.3% to 62.38 USD/bbl.
read more... 11/09/2019