Daily (03.12.2019): NBP gas forward prices strongly bearish on Monday due to robust supplies from LNG terminals and from Norway

03/12/2019 11:26 Daily


Brent crude declined on Monday on concerns about global oil oversupply and limited progress toward resolving the U.S.-China trade war that has clouded the outlook for oil demand. Brent lost 2.4% to settle at $60.92 a barrel.

British prompt gas prices tumbled on Monday as a high consumption was counterbalanced by stronger supplies from LNG terminals and from Norway. More than a dozen LNG tankers are scheduled to arrive in Britain by Dec. 15. NBP spot gas dipped by 3.8% to trade at 39.00 p/therm.

Along the forward curve, prices also eased. The January gas contract was down 3.5% at 41.27p/therm, while the Summer 2020 contract shed 2.4% at 36.88 p/therm.

European spot power prices skyrocketed on Monday, buoyed by higher demand. German power for day-ahead delivery soared by 22% at 51.36 euros/MWh, while the French equivalent contract rallied 37% at 57.85 euros/MWh.

Forward contracts lost ground following the downward evolution of the energy complex. The German Cal ‘20 baseload contract settled at 45.05 euros, down 1.6%. The price for the French equivalent contract decreased by 1.7% at 48.30 euros/MWh.

The carbon prices plunged on Monday, dragged down by a mix of technical and fundamental factors. The price for the contract expiring in 2020 dipped by 3.5% to 24.47 EUR/tonne.

Hungarian minister highlights importance of nuclear energy

03/04/2020 10:37:00

The coronavirus pandemic has underlined the importance of the existing Paks nuclear power plant, which accounts for about half of Hungary's electricity generation, noted János Süli. The minister responsible for the design, construction and commissioning of two new reactors at Paks said that project will maintain the country's energy security and help revive its economy in the coming years.


Wind, solar secure 1.4GW in latest French tenders

03/04/2020 10:33:00

The French Ministry for the Ecological and Inclusive Transition has procured approximately 750MW of wind and 630MW of ground-mounted photovoltaic capacity in its latest round of tenders.


Daily (03.04.2020): Brent and WTI surged by 21% and 25% respectively on Thursday as Trump signalled the price war might end soon

03/04/2020 10:24:00

Crude oil futures increased considerably on Thursday, posting their biggest spike in a single session following a message from Donald Trump promising a reduction in Russian and Saudi production to rebalance the black gold market devastated by the covid-19 pandemic. At the same time, Saudi Arabia called for an urgent meeting of the OPEC and other countries, including Russia, to re-establish a balance in the oil markets.