Daily (06.12.2019): German spot power down 26% on Thursday on strong wind output

06/12/2019 09:46 Daily

news

Crude oil prices evolved differently on Thursday, with WTI prices ending flat and Brent slightly up as traders awaited a decision on output from major oil producers. Brent crude rose by 39 cents, or 0.6%, to settle at $63.39 a barrel, after a hike of 3.6% in the previous session. WTI crude remained unchanged at $58.43 a barrel on the NYMEX, after surging by 4.2% the previous day.

A committee of oil producers led by Saudi Arabia and Russia recommended on Thursday that the group increase their current oil production cuts by 500,000 barrels a day.

 

British prompt gas prices tumbled on Thursday amid an oversupplied system due to a milder weather which curbed demand. NBP spot plunged by 12% to 31.15 p/therm. Along the forward curve, the January gas price decreased by 2.5% to 40.01 p/therm, while the gas contract for 2020 delivery lost 2.5% to end at 38.66 p/therm.

 

European spot power prices recorded a sharp decline on Thursday following a strong wind output in Germany and a weaker demand in France. German contract for the day-ahead delivery plunged by 26% to 31.10 EUR/MWh, while the French equivalent contract dipped 18% to 48.78 EUR/MWh.

 

 

Forward contracts also decreased, tracking lower carbon prices. German contract for 2020 delivery declined by 0.7% at 44.34 EUR/MWh, while the French equivalent contract shed 0.3% at 47.76 EUR/MWh.

 

The EUAs expiring in 2020 eased 0.2% at 24.85 EUR/tonne on Thursday, rebounding from an intraday €24-low, with purchasers intervening at levels that have systematically found support over the past two weeks.

Daily (21.01.2020): Crude oil hits the highest level in a week due to supply disruption in Libya

21/01/2020 11:55:00

Crude oil prices climbed to their highest level in more than a week on Monday, due to a halt in the crude production at two large Libyan oilfields after forces loyal to commander Khalifa Haftar closed a pipeline, bringing back the focus on supply risks.

<READ MORE

Turkey gets 38 bln TL for 2019 clean energy generation

21/01/2020 10:09:00

Under Renewable Energy Support Scheme, 777 facilities receive financial backing and produce 76.67 million MWh of electricity

READ MORE

Vestas plots ‘zero-waste' turbine future

21/01/2020 10:03:00

Danish manufacturer aims for milestone by 2040 with initial focus on improving blade recycling

READ MORE