Daily (07.02.2019): EU carbon prices surged by over 2% on Wednesday, buoyed by rising power prices and a gap in the auction calendar

07/02/2019 11:10 Daily

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Wednesday saw slight gains in oil prices due to a strong U.S. demand for distillate products and a prevailing shortage in the global crude supply. However, gains were capped amidst a stronger U.S. dollar and persisting concerns over a global economic slowdown. Brent crude was up 1.2% at 62.69 USD/bbl, while WTI crude rose by 0.7% to close at 54.01 USD/bbl.

British spot gas prices added gains on Wednesday, due to maintenance works in the Norwegian gas system that affected supply. NBP spot price climbed by 0.8% to 50.65 p/therm. Along the curve, milder weather forecasts put pressure on prices. The contract for Q2 2019 delivery traded 1.3% lower at 47.43 p/therm.

 

European spot power prices plunged on Wednesday, following increasing power generation from wind turbines, and relatively mild temperatures.The French day-ahead power price dropped by 9% to 48.21 EUR/MWh, while the equivalent German contract sank by 13.2% to 44.55 EUR/MWh.

 

On the curve, the market was supported by higher carbon emissions and gas prices. The German power contract for delivery in 2020 traded 2.4% higher at 49.70 EUR/MWh, while the equivalent French contract was up 1.9% at 52.20 EUR/MWh.

 

European carbon prices rose on Wednesday amidst increasing power prices and a gap in the auction calendar. The price for the 2020-expiry contract traded 2.2% higher closing at 24.12 EUR/tonne.

Daily (21.08.2019): NBP Sep19 price jumped by almost 5% due to an outage at the Culzean gas field

21/08/2019 11:38:00

Crude oil prices were rather steady on Tuesday. Brent crude inched up by 0.5% to $60.03 as tensions between U.S. and China eased. However, WTI futures dropped by 0.1% to 56.13 amidst continued concerns over global demand.

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Moldova seeks importing Russian gas through the Turkish Stream gas pipeline

21/08/2019 08:45:00

The Moldovan government is interested in importing Russian gas through the TurkStream pipeline and has discussed the issue with Gazprom officials, the country's Economy Minister Vadim Brinzan said today.

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Bulgaria's HPP Chaira extends unplanned outage of unit

21/08/2019 08:42:00

Bulgarian pumped-storage hydro power plant (HPP) Chaira has extended the unplanned outage of one of its units by three days to August 23, the Independent Bulgarian Energy Exchange (IBEX) said on Tuesday.

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