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

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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 (22.05.2019): NBP spot ended down by nearly 3% on Tuesday due to higher Norwegian flows

22/05/2019 11:33:00

The outlook of a tighter supply fuelled by the growing tensions in the Middle East and OPEC’s constant commitment to cut output supported oil prices on Tuesday. Meanwhile, gains were capped by the lengthy U.S.-China trade dispute and its bearish impact on the global economic growth. Brent crude price edged higher by 0.3% to 72.18 USD/bbl, while WTI futures were only 0.1% up at 63.13 USD/bbl.

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Serbia aims to complete Bulgaria-Hungary gas link by Dec 18 - energy min

22/05/2019 08:48:00

Serbia plans to complete the construction of a natural gas pipeline from the border with Bulgaria to the border with Hungary by December 18, energy minister Aleksandar Antic said on Tuesday.

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Zennor completes North Sea wells

22/05/2019 08:36:00

Independent UK oil and gas firm Zennor Petroleum announced Tuesday the completion of drilling and testing operations at the Finlaggan field in the North Sea, Kallanish Energy reports.

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