Daily (14.06.2018): NBP day-ahead gas price jumped by 3.4% on Wednesday due to an undersupplied system

14/06/2018 14:17 Daily

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Increased demand in fuel consumption in the United States and lower crude inventories boosted oil prices on Wednesday. Brent crude futures rose by 1.1% to settle at $76.74 a barrel. U.S. West Texas Intermediate (WTI) crude futures added 28 cents, or 0.4%, to $66.64 a barrel.

An undersupplied system due to maintenance reasons at the Britain-Belgium interconnector resulted in a surge in gas prices on Wednesday.  The July 2018 delivery contract traded 3.2% higher at 56.84 p/therm. NBP spot price soared by 3.4% to close at 55.9 p/therm.


European power prices for day-ahead delivery dropped on Wednesday, due to forecasts for a dip in demand, and higher electricity generation from nuclear and solar power sources.

 

As average temperature is expected to increase in France and Germany, the power prices for day-ahead delivery decreased by 4.8% and 9.4%, to settle at 45.93 and 43.65 EUR/MWh respectively.

 

Along the forward electricity curve, prices surged along with bullish oil, gas and carbon markets. The German year-ahead contract ended at 42.3 EUR/Mwh, or up 0.7%. The French equivalent Cal’19 contract edged 0.4% higher at 45.93 euros/MWh.

 

After the market managed to grip a significant UK auction on Tuesday, EU carbon prices gained ground on Wednesday. The CO2 contract expiring in 2019 hiked by 1.1% to close at 15.54 euros a tonne.
 

Daily (12.07.2018): Brent crude plummeted by almost 7% on Wednesday, on news that Libya would increase output

12/07/2018 13:00:00

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Electric vehicles could lift UK peak power demand by 5-8 gigawatts by 2030: National Grid

12/07/2018 09:58:00

The growing use of electric vehicles could increase peak electricity demand in Britain by between 5 and 8 gigawatts (GW) by 2030, National Grid said on Thursday.

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Gazprom, Uzbekneftegaz discuss Shakhpakhty gas field production

12/07/2018 09:45:00

Russian gas monopoly Gazprom and national holding company Uzbekneftegaz have discussed the bilateral cooperation between the companies, focusing on the joint development of the Shakhpakhty field in the former Soviet republic.

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