Daily (06.09.2019): NBP spot soared by 7.7% on Thursday, on expectations for higher demand

06/09/2019 11:46 Daily


Crude oil prices remained bullish on Thursday following a larger-than-expected fall in the U.S. crude stockpiles reported for last week. Meanwhile, slowing global economic growth and weaker hopes for an upcoming trade agreement between China and the U.S. tempered the rise. Brent crude advanced by 0.4% to $60.95 a barrel, while WTI futures edged 0.1% higher at $56.30 a barrel.

British wholesale gas prices strengthened on Thursday, on next-week forecasts for cooler weather and robust storage withdrawals which would boost demand. As a result, the day-ahead gas price spiked by 7.7% to 20.90 p/therm. In the meantime, the contract for delivery in Q2 2020 added 1% to close at 42.73 p/therm.

European prompt electricity prices diverged on Thursday. The price for the German spot power rose by 2.3% to 32.45 EUR/MWh, stimulated by falling wind generation. Meanwhile, the French equivalent contract traded 1.4% down at 32.15 EUR/MWh, as weaker consumption expected in the coming week offset support from the extended outages at Bugey 3 reactor and the Dampierre 1 plant.


Forward power prices declined on Thursday, in the context of rather flat carbon prices. Still, the bullish energy complex capped losses. The German Cal 2020 delivery contract edged 0.6% lower at 47.47 EUR/MWh. The price for the French equivalent contract slipped by 0.1% to 49.48 EUR/MWh.


European carbon prices were almost steady on Thursday, amid a lack of auction for a second consecutive day and easing political turmoil over a no-deal Brexit. The 2019-expiry contract settled slightly higher at 25.53 EUR/tonne.

Zimbabwe hikes average electricity tariff by 320% - energy regulator

09/10/2019 13:25:00

Zimbabwe has increased the average electricity tariff by 320% to let the state power utility ramp up production and improve supplies at a time of daily rolling power cuts, the national energy regulator said on Wednesday.


Daily (09.10.2019): European carbon prices reached EUR 23 a tonne on Tuesday, on worries over Brexit negotiations

09/10/2019 10:50:00

Crude oil prices traded lower on Tuesday, after Donald Trump reported that a quick trade deal will unlikely happen soon. Meanwhile, oil prices were supported by protests in OPEC members Iraq and Ecuador, which threatened to disrupt their oil output. Hence, WTI futures fell by 0.2% to $52.63 a barrel, while Brent crude edged 0.2% down at $58.24 a barrel.


Ukraine to export natural gas to Moldova without Gazprom's involvement

09/10/2019 09:28:00

The Cabinet of Ministers has instructed NJSC Naftogaz of Ukraine to take measures to ensure natural gas exports to Moldova without the involvement of Russia's Gazprom.