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

06/09/2019 11:46 Daily

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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.

Daily (24.02.2020): Brent down 1.4% on Friday amid fears of accelerated spread of the coronavirus beyond China

24/02/2020 09:59:00

Crude oil futures settled down on Friday as the coronavirus spread accelerated outside China, intensifying concerns about the infection’s repercussions on the economy.

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Czech energy group EPH to buy out Uniper in Schkopau plant

24/02/2020 09:28:00

Czech energy group EPH’s subsidiary Saale Energie will take full control of the Schkopau lignite-fired power plant in Germany after agreeing to buy Uniper’s 58% stake, EPH said on Friday.

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CIP reaches financial close on 589MW Changfang, Xidao

24/02/2020 09:24:00

Copenhagen Infrastructure Partners (CIP) has reached financial close on the 589MW wind Changfang and Xidao project off the coast of Changhua County, Taiwan.

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