Daily (13.11.2017): UK day-ahead gas contract settled 2.7% up on Friday, due to expectations of colder weather

13/11/2017 11:15 Daily


Crude prices fell slightly on Friday as anticipations that OPEC and other producers will extend their output reduction agreement were offset by U.S. drillers adding the most oil rigs in a week since June, indicating output will continue to rise. 

Brent futures dropped 41 cents, or 0.6 percent, to $63.52 a barrel. Meanwhile U.S. West Texas Intermediate crude settled down 43 cents, or 0.8%, at $56.74 per barrel. Earlier last week, Brent rose to $64.65, its peak since June 2015, and WTI attained $57.92, its highest since July 2015. Both contracts gained more than 2 percent week-on-week, which was the fifth consecutive increase.


British wholesale gas prices rose on Friday on predictions of lower temperatures below seasonal norms over the weekend. NBP day-ahead price surged by 1.40 pence, or 2.7%, to 53.50 p/therm. On the forward curve, the first quarter contract traded 0.26 pence up at 55.34 p/therm. 


European day-ahead power prices gained significantly on lower temperature forecasts. French Monday delivery baseload was at 59.08 euros/MWh, up 25.8 percent from the price paid for Friday, while German Monday delivery, traded at 45.74 euros, or 38 percent up.

Electricity curve prices were mixed amid profit-taking from coal-driven rallies. German year-ahead power slightly rose to 36.98 euros/MWh, having posted a 45-month high this week of 37.53 euros. The equivalent French contract shed 0.4 percent to 42.03 euros.

European carbon prices decreased for a fourth consecutive day on Friday, slipping to a seven-day low and posting a 6.1% weekly loss as selling continued in the wake of Thursday’s agreement on post-2020 ETS reforms. Emission allowances expiring in 2018 ended 2% down at 7.43 euros a tonne.

In 2018, Gazprom plans to invest $3.2 billion in TurkStream

16/01/2018 14:32:00

Russian major gas firm Gazprom plans to fund an amount of 182.4 billion roubles ($3.2 billion) this year in TurkStream natural gas pipeline project.


EBRD backs France’s Urbasolar plant in Kazakhstan

16/01/2018 13:50:00

The European Bank for Reconstruction and Development (EBRD) is backing French energy firm’s Urbasolar SAS in its intention to construct a solar power plant in Kazakhstan.


Daily (16.01.2018): Brent crude settled close to a 3-year peak above $70 a barrel on tightening supplies

16/01/2018 11:24:00

Oil prices jumped to near a three-year peak above $70 a barrel on Monday on signs that output reductions by OPEC and Russia are tightening supplies, although analysts warned of a "red flag" due to surging U.S. production.