Daily (04.07.2019): NBP spot jumped by 2.2% on Wednesday, due to outages in Norway

04/07/2019 11:52 Daily


Crude oil prices added ground on Wednesday, as major U.S. stock indexes closed at record high levels.  Moreover, a decrease in the number of oil rigs, operated by U.S. energy firms, for the first time in three weeks, also lent support to prices. As a result, Brent crude climbed by 2.3% to $63.82 a barrel, while WTI futures closed 1.9% higher at $57.34 a barrel.

British gas prices diverged on Wednesday. NBP day-ahead jumped by 2.2% to 27.50 p/therm, as several outages in Norway disrupted flows, leading to an undersupply in the system. Meanwhile, gas prices on the curve were in a bearish mood on Wednesday, influenced by losses registered in previous sessions and the expected arrival of more LNG vessels. As a result, the contract for delivery in Q4 2019 lost 1% to close at 44.27 p/therm at the end of the day.


European day-ahead power prices lost momentum on Wednesday due to a rise in renewables output, and a fall in demand. The price for the German prompt power contract decreased by 2% to 33.98 EUR/MWh, while the equivalent French contract settled 1.7% lower at 31.28 EUR/MWh.


Forward electricity prices also declined on Wednesday, tracking lower gas and carbon prices. The price for the German power contract for delivery in 2020 fell by 2% to 48.48 EUR/MWh, while the equivalent French contract traded 1.9% lower at 50.91 EUR/MWh.


EU carbon prices dropped for the second consecutive day on Wednesday weighed by higher auction volumes and weaker energy prices. The price for the 2021-expiry contract ended 0.7% lower at 27.33 EUR/tonne.

Iberdrola secures its first 149 MW of solar in Portugal

09/08/2019 08:50:00

Spanish power utility Iberdrola SA confirmed Thursday it had been awarded 149 MW of solar photovoltaic (PV) capacity in Portugal’s recently completed solar auction.


Spain’s LNG imports jump in June

09/08/2019 08:49:00

Spain’s imports of liquefied natural gas (LNG) jumped 48.9 percent in June when compared to the corresponding month last year, according to the monthly data by the LNG terminal operator Enagás.


Daily (08.08.2019): Oil prices plummeted by over 4.5% on Wednesday, due to a buildup in U.S crudes stockpiles and China-U.S. trade war

08/08/2019 11:21:00

Oil prices decreased on Wednesday reaching a seven-month low, following a surprise accumulation in U.S. crude stockpiles. Moreover, worries that oil demand will shrink due to China – U.S. escalating trade war also put pressure on prices. Hence, Brent crude fell by 4.6% to $56.23 a barrel, while WTI futures traded 4.7% lower at $51.09 a barrel