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

04/07/2019 11:52 Daily

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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.

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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.

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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

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