Daily (05.04.2019): European power prices on the curve climbed by over 3% on Thursday following bullish carbon market

05/04/2019 10:13 Daily


Oil prices varied on Thursday. Brent crude edged 0.1% higher at $69.40 a barrel on tightening global supply due to U.S sanctions on Iran and Venezuela, as well as OPEC-led output cuts. Meanwhile, WTI futures declined by 0.6% to $62.10 a barrel on rising production and higher crude inventories.

British gas prices extended gains on Thursday, on colder weather forecasts and rising carbon prices. NBP spot rose by 5.4% to 35.00 p/therm, while the contract for delivery in Q3 2019 traded 5% higher at 38.40 p/therm.


European day-ahead power prices were mixed on Thursday. The price for the German day-ahead power contract inched 0.6% higher at 42.28 EUR/MWh, on stronger consumption due to cooler temperatures. Meanwhile, the equivalent French contract traded 0.6% lower at 43.53 EUR/MWh, due to stable nuclear supply.


Along the curve, electricity prices rose on Thursday tracking higher gas and carbon prices. The price for the German power contract for delivery in 2020 surged by 3.5% to 48.53 EUR/MWh, while the equivalent French contract traded 3.2% up at 51.49 EUR/MWh.

EU carbon prices continued the upward evolution on Thursday, due to strong trading activity amidst Brexit optimism and a bullish energy complex. The price for the 2021-expiry contract settled 5.3% higher at 25.19 EUR/tonne.

Daily (15.05.2019): Brent crude rose by 1.4% on Tuesday, after a drone attack on a Saudi Arabia oil firm

15/05/2019 11:19:00

Crude oil prices soared on Tuesday, after the attack of the Yemeni explosive-charged drones on Saudi Arabia’s oil firm, Aramco, which shortly halted pumping. However, production and oil exports continued without disruption. Meanwhile, China-US trade negotiations are still not settled. As a result, Brent crude rose by 1.4% to $71.24 a barrel, while WTI futures traded 1.2% higher at $61.78 a barrel.


ICGB selects Greece's J&P-Avax to build Greece-Bulgaria gas link

15/05/2019 09:29:00

ICGB, the project company developing the Gas Interconnector Greece-Bulgaria, said on Tuesday it has picked Greece's J&P-Avax to buid the gas link for 144.8 million euro ($162.6 million).


Nordex unveils 350-MW US deal for 4-MW class turbines

15/05/2019 09:26:00

German wind turbine maker Nordex today announced an order for 350 MW of its Delta4000 machines from an unnamed energy supplier in the US.