Daily (04.09.2019): NBP spot fell by nearly 4% on Tuesday, weighed by low demand

04/09/2019 12:04 Daily


Crude oil prices extended losses on Tuesday, as weaker manufacturing data in the U.S. and the eurozone reported for August worsened the crude demand outlook. Brent crude traded 0.7% down at $58.26 a barrel, while WTI futures dipped by 1.6% to $53.94 a barrel amid dragging U.S.-China trade talks.  

British wholesale gas prices varied on Tuesday. Higher output from wind turbines reduced demand from gas-fired plants, pushing the NBP spot 3.8% lower at 20.50 p/therm. On the other side, the contract price  for delivery in Winter 2019 edged up by 0.4% at 44.97 p/therm stimulated by the upward move in carbon prices, while bearish oil prices and expectations for more LNG arrivals capped gains. 


European spot electricity prices fell back on Tuesday, pressured by stronger wind and nuclear power output along with limited demand. The French prompt power price fell by 3.9% to 34.01 EUR/MWh. In the meantime, the German equivalent contract plunged by 9.1% to 33.08 EUR/MWh.  


Further on the curve, power prices slightly diverged on Tuesday, influenced by a volatile carbon market and mixed gas prices. The German Cal 2020 delivery contract advanced by 0.1% to 47.06 EUR/MWh, while the French equivalent contract was 0.1% down at 48.80 EUR/MWh. 


European carbon prices struggled to recover after an earlier 2.5-month low on Tuesday, amid volatile trading and bearish technical signals. Growing tensions around Brexit showdown in the UK Parliament ahead of a decision on future Brexit developments spurred more volatility in the EUAs, which is likely to set in for the coming weeks. The price for the contract expiring in 2020 slid by 0.2% to 25.47 EUR/tonne. 

Daily (23.01.2020): Brent fell over 2% on Wednesday on supply glut concerns, coronavirus spread in China

23/01/2020 11:10:00

Crude oil prices fell more than 2% on Wednesday following a supply glut forecast released by IEA. Moreover, the spread of China’s coronavirus increased concerns about demand. Brent crude for March delivery dipped $1.38, or 2.1%, to settle at $63.21 a barrel on ICE London. WTI for February shed $1.64, or 2.8%, to end at $56.74 on NYMEX.


UK awards £50m for clean energy projects in Africa

23/01/2020 10:49:00

The UK Government has announced an investment of more than £50 million to support clean energy projects across countries in Africa.


'Power of Siberia' Pipeline Begins Flow to China

23/01/2020 10:37:00

China has started to consume Russian gas via the newly launched "Power of Siberia" pipeline, said CNPC-backed Kunlun Energy Ltd, operator of the pipeline in China, on Wednesday.