Daily (08.10.2019): Higher wind power output and warmer weather pushed NBP spot 6.3% down on Monday

08/10/2019 11:10 Daily

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Oil prices were little changed on Monday on hopes of progress in U.S.-China trade negotiations which should take place on Oct. 10-11 in a fresh effort to work out a deal. However, worsening global economic conditions still put pressure on oil demand.  Hence, Brent crude ended at $58.35 a barrel, while WTI futures lost 0.1% to end at $52.75 a barrel.

High wind output curbed demand for gas used for electricity generation on Monday. Milder weather forecasts also put pressure on gas prices. Hence, NBP spot declined by 6.3% to 26.00 p/therm, while the Q1 2019 delivery contract settled 0.8% lower at 50.30 p/therm.

 

European day-ahead power prices were mixed on Monday. The German day-ahead power price decreased by 5.5% to 34.86 euros/MWh, amidst rising wind power supply and higher thermal availability. Meanwhile, the French spot electricity price rose by 5.1% to 39.22 euros/MWh, on lower nuclear availability.

 

Along the curve, power prices edged down tracking a fall in gas prices. The German Cal20 delivery contract traded 0.3% lower at 46.67 euros/MWh, while the French equivalent ended 0.3% down at 49.31 euros/MWh.

 

European carbon prices firmed up on Monday, amid the latest improvement in profitability for coal plants that boosted EUA demand for utilities. The 2021-expiry contract closed 1.9% higher at 23.98 euros/tonne.

Daily (20.11.2019): WTI crude dropped by 3.2% on Tuesday on worries about oversupply and slow progress in U.S.-China trade dispute

20/11/2019 11:18:00

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20/11/2019 08:46:00

Algerian energy company Hyproc SC's LNG carrier Ramdane Abane arrived in Turkey on Tuesday, Nov. 19, according to ship tracking data on Wednesday.

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20/11/2019 08:42:00

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