Daily (10.08.2018): NBP spot price dropped by 0.5% on Thursday due to an oversupplied system

10/08/2018 11:35 Daily


Increased trade tensions between U.S. and China will probably lead to a lower demand for crude, weighing down on oil prices. Brent crude slipped by 0.3% to settle at $72.07 a barrel. On its turn, WTI crude edged 0.2% lower to 66.81 a barrel.

Stronger flows from Langeled pipeline contributed to oversupplied system on Thursday, reducing NBP spot price by 0.4% to 58.75 p/therm. On the forward curve, Winter 2018 delivery contract edged 0.4% higher at 65.72 p/therm, on forecasts for lower temperatures during the upcoming weeks.


European spot electricity prices were mixed on Thursday. The German baseload contract for Friday delivery traded 18.4% lower at 44.94 euros/MWh, pressured by a potential growth in wind production. Meanwhile, the French equivalent contract lost 15% to close at 46.48 euros/MWh, as demand might decrease on forecasts for cooler weather.


Power contracts on the curve posted gains in line with gas and coal prices. The German Cal’19 electricity contract was 0.5% higher at 45.18 euros/MWh. The French equivalent contract added 0.4% at 49.43 euros/MWh.


A strong auction boosted European carbon prices on Thursday, which moved again towards their latest 7-year high.
The 2021 expiry carbon contract ended 1.1% up at 18.86 euros a tonne.

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