Daily (06.12.2018): Gas and power prices fell on Wednesday: low demand, warm weather and strong wind generation

06/12/2018 11:27 Daily


Oil prices slipped on Wednesday, as President Donald Trump expects steady crude flows. Brent crude price edged 0.8% lower to $62.08 a barrel. Meanwhile, WTI crude fell 0.7% to $52.89 a barrel, as losses were limited by potential cuts in oil production.

British gas prices slumped on Wednesday, mainly due to higher temperatures forecasts and weaker demand. Moreover, stronger wind production weighed down on the demand for gas from power generators. Consequently, NBP spot price decreased by 2.2% to 62.60 p/therm. Q1 2019 delivery contract traded 3% down at 64.59 p/therm.


On Wednesday, a downward evolution was noticed in European spot electricity prices, caused by robust wind generation and lower demand due to warmer weather. In other words, the baseload price in Germany for Thursday delivery tumbled by 7.5% to 54.75 euros/MWh, while the French equivalent contract lost 3.4% to 57.59 euros/MWh.


Electricity prices on the curve also fell on Wednesday, due to a bearish energy complex. The 2019-delivery contract price in Germany dropped by 1.2% to 51.67 euros/MWh. The French equivalent contract was 1.1% lower at 57.26 euros/MWh.


Carbon prices collapsed close to the €20 level on Wednesday, as a weak auction could not provide support. Correspondingly, the carbon contract expiring in 2020 ended 5% down at 20.57 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.