FRANKFURT, May 14 (Reuters) - Germany’s year-ahead electricity contract hit a new all-time high in the European wholesale market on Monday, lifted by gains in oil, the energy sector’s “lead currency.”
* German baseload for 2019 delivery reached 40.70 euros ($48.77) a megawatt hour (MWh), a level never seen on the contract that started trading in 2015.
* This was 0.6 percent up from its close on Friday.
* Brent crude oil was 0.4 percent up at $77.4 a barrel, with the market’s surge coming in the wake of U.S. sanctions against major exporter Iran. ($1 = 0.8345 euros) (Reporting by Vera Eckert; Editing by Mark Potter)