Daily (09.04.2019): WTI crude at its 5-month high on Monday due to conflict in Libya

09/04/2019 10:00 Daily


Crude oil prices increased on Monday, bolstered by concerns that civil unrest in Libya could lead to a tighter crude supply. OPEC’s production cuts as well as U.S. sanctions against Iran and Venezuela also supported prices. Brent crude price rose by 1.1% to $71.10 a barrel. Meanwhile, WTI futures hiked by 2.1% to $64.40 a barrel, after data showed a drop in the crude inventories at the WTI delivery point in Cushing, Oklahoma.

Monday saw a correction in UK gas prices, as Norwegian flows via the Langeled pipeline were back to the normal level. In addition, robust LNG deliveries into an oversupplied system also put pressure on prices. The NBP spot price plunged by 6.7% to 38.25 p/therm. At the same time, the contract price for delivery in May 2019 slumped by 4.8% to 39.14 p/therm.


European day-ahead electricity prices posted strong gains on Monday, on expectations for a rising demand due to short-term forecasts for a cold snap. The German spot power price soared by 9.6% to 41.99 EUR/MWh. In the meantime, the price for the equivalent French contract spiked by 9.2% to 42.72 EUR/MWh, due to weaker wind power generation.


Along the forward curve, power prices were rather flat on Monday. The German power contract for delivery in 2020 edged 0.2% higher at 49.28 EUR/MWh, amid supportive oil and coal prices. However, the decline in carbon prices and the downside correction on the gas market limited a further rise in prices. The equivalent French contract price was almost constant, trading at 52.28 EUR/MWh.


The European carbon prices reversed trend to retreat from a 10-week high amid signs of an overbought market on Monday. The price for the 2020-expiry contract lost 1.2% to end at 24.62 EUR/tonne.

Daily (19.11.2019): NBP spot fell by 2% on forecasts for lower heating and gas-for-power demand due to milder weather

19/11/2019 10:40:00

Oil prices lost ground on Monday amid uncertainty over a trade agreement between the U.S. and China. Furthermore, worries about crude oversupply also put pressure on oil contracts. Brent crude dropped by 1.4% to $62.44 a barrel and WTI futures fell by 1.1% to $58.05 a barrel.


Ukrainian power player hits 1GW milestone

19/11/2019 09:12:00

Ukraine developer DTEK has reached 1GW of online renewables capacity after completing the 100MW Orlivska wind farm in the Zaporizhzhia region of its home market.


World's largest green-hydrogen plant begins operation in Austria

19/11/2019 09:09:00

The world’s largest green-hydrogen production facility has commenced operations in Austria, “setting an international milestone in the advancement of new energy supply options”, according to the project partners.