Daily (08.11.2019): NBP spot jumped by 5.5% on Thursday amid higher demand and weaker Norwegian pipeline supply

08/11/2019 10:11 Daily


Crude oil prices firmed on Thursday, amid optimistic signs from China suggesting that the trade deal with the U.S. is moving closer to a much-awaited conclusion, raising hopes for a stronger crude demand. Under such circumstances, WTI futures spiked by 1.4% to $57.15 a barrel, while Brent crude inched up by 0.9% at $62.29 a barrel.

Colder weather forecasts and limited renewable power output boosted demand, driving the NBP day-ahead price 5.5% higher at 35.60 p/therm on Thursday. Reduced Norwegian flows lent more support to the spot contract. Meanwhile, UK forward gas prices decreased on Thursday, amid robust storages and abundant LNG supplies, with the March 2020 delivery contract 1.1% lower at 44.18 p/therm.


European spot electricity prices rebounded on Thursday, stimulated by a strong decline in wind and solar power generation. The price for the French day-ahead power contract surged by 11.2% to 48.38 EUR/MWh, on expectations for increased demand due to cooler temperatures. Similarly, the German equivalent contract gained 10.3% to close at 47.12 p/therm. 


Forward power prices remained bearish on Thursday, influenced by weaker gas futures. The price for the German 2020-delivery power contract retreated by 0.9% to 46.41 EUR/MWh, while the French equivalent contract ended 0.8% lower at 48.92 EUR/MWh.


The EU carbon prices edged higher on Thursday, amid mixed fuel prices. However, persistent concerns over downbeat German economic data limited gains. The 2020-expiry contract lost 0.6% to settle at 25.08 EUR/tonne.

Germany passes ‘coal-exit’ law to phase out fossil fuels by 2038

06/07/2020 09:50:00

German lawmakers have voted a roadmap for the coal-free era in the country, which includes abandoning nuclear power by 2022


Daily (03.07.2020): Brent and WTI settled on Thursday at their highest levels since March amid lower U.S. unemployment rate

03/07/2020 09:49:00

Crude oil futures posted a second consecutive day of gains on Thursday, with Brent and WTI hitting their highest levels since March 6, after a decline in U.S. unemployment rate and a sharp drop in crude stockpiles earlier this week. Hence, Brent crude for September delivery soared by $1.11, or 2.64%, to settle at $43.14 per barrel. At the same time, U.S. WTI crude edged 83 cents higher, or 2.08%, to end at $40.65 per barrel.


RWE wraps up acquisition of Innogy's renewable energy ops

03/07/2020 09:40:00

German energy major RWE AG said on Wednesday that its complex asset-swap with rival E.on SE is now fully completed, creating a massive renewable energy business.