Daily (05.12.2018): NBP spot price dropped by 3.3% on Tuesday due to warmer weather and oversupply

05/12/2018 11:34 Daily


Oil prices gained further momentum on Tuesday, on expectations for supply shortages, a subject to be discussed at the meeting between the OPEC and Russia in Vienna on the 6th of December.

Brent crude price traded 0.6% higher at $62.08 a barrel. At the same time, the cut in Canadian production in the efforts to help OPEC limit oversupply also boosted prices. WTI crude surged by 0.6% to $53.25 a barrel.


On Tuesday, European spot power prices diverged. The German day-ahead electricity price hiked by 16.9% to 59.21 euros/MWh, due to forecasts for lower temperatures and a decrease in wind generation. Meanwhile, French power prices for Wednesday delivery dropped by 1.2% to 59.63 euros/MWh, on expectations for weaker consumption.


Further along the curve, electricity prices fell, tracking bearish gas markets. The German year-ahead power contract lost 1.3% to 52.27 EUR/MWh, while the French equivalent contract ended 1% down at 57.89 EUR/MWh.


Most of the gas contracts were bearish on Tuesday because of increased flows from Norway and the arrival of one LNG vessel during the week. The Q1 2019 delivery contract was 2.5% lower at 66.58 p/therm. Moreover, weaker demand for gas because of warmer weather forecasts put more pressure on the day-ahead contract price. Consequently, NBP spot price slumped by 3.3% to 64 p/therm.


EUAs continued their upward trend on Tuesday, after a strong session amid cautious optimism. The contract expiring in 2020 closed 0.6% higher at 21.64 euros a tonne.

Daily (14.02.2019): Oil prices climbed by 1.8% on Wednesday, as Saudi Arabia plans to reduce crude exports and production

14/02/2019 12:16:00

Oil prices were bullish on Wednesday, after Saudi Arabia announced its plans to reduce crude exports and production. At the same time, rising U.S. crude inventories might still put pressure on the market. As a result, Brent crude increased by 1.9% to 63.61 USD/bbl. WTI crude rose by 1.5% to 53.90 USD/bbl.


European consortium to buy 80% of Veja Mate offshore wind park

14/02/2019 10:10:00

A consortium led by asset manager Commerz Real AG and IKEA franchisee Ingka Group will acquire an 80% stake in the 402-MW Veja Mate offshore wind park in the German North Sea.


Over 500 Agreements to be Signed at Russian Investment Forum

14/02/2019 09:55:00

Over 500 agreements worth a total of 800 billion roubles are expected to be signed at the Russian Investment Forum 2019. This preliminary estimate is based on the information from the Forum participants and from open sources.