Daily (12.10.2017): French year-ahead delivery power contract hit a record high, delayed nuclear reactors restarts

12/10/2017 11:14 Daily


Oil prices edged up for the third day on Wednesday as OPEC predictions of higher demand for 2018 and tensions in Kurdistan buyout prices.

Brent crude futures increased by 33 cents, or 0.6 percent, to end at $56.94 per barrel. Meanwhile, U.S. West Texas Intermediate (WTI) crude futures rose 38 cents, or 0.8 percent, to settle at $51.30 a barrel.


British prompt gas prices dropped on Wednesday as forecasts for warmer weather, robust wind energy production and easing gas demand, led to an oversupplied system. NBP day-ahead gas price fell 2.6 pence, or 5.4%, to 45.75 p/therm. Most of the forward contracts traded slightly higher.


Stormy weather conditions should end in Germany by Friday, reducing high wind power generation volumes, which encouraged the electricity prices in the European wholesale market on Wednesday. German spot electricity price was 26 percent down at 25.38 euros/MWh, while the equivalent French day-ahead price was off 5 percent at 53.04 euros/MWh.

Along the forward electricity curve, more reports about delayed nuclear reactor restarts lifted French contracts. The French power delivery price for 2018 hit a record high of 43.5 euros a megawatt hour (MWh), up 2 percent. The German equivalent contract, a European benchmark, rose 1.6 percent to 35.96 euros.

EU carbon prices were almost flat on Wednesday after surging to a new one-month peak, reinforcing the previous session’s 6% hike ahead of EU lawmaker discussions that could bring a two-year negotiation on ETS reform to an end. The carbon contract expiring in December 2020 closed at 7.62 euros/tonne.

EU compelled by IETA to complete Emission Trading System

18/10/2017 13:37:00

EU compelled by IETA to complete Emission Trading System


Daily (18.10.2017): British spot gas price surged 1.6% on colder weather and lower flows from Norway

18/10/2017 11:05:00

Oil prices edged slightly higher on Tuesday, stabilising after prior gains and losses, as estimates of high U.S. output and exports offset concerns that fighting between Iraqi and Kurdish forces might menace the country's crude production.


Mergers and acquisitions in oil and gas industry will increase

17/10/2017 16:49:00

Mergers and acquisitions in oil and gas industry will increase