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

10/08/2018 11:35 Daily

news

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.

Daily (16.08.2018): WTI crude dropped by 3% on Wednesday, due to a high level of crude inventories

16/08/2018 11:10:00

Oil prices were bearish on Wednesday, as trade tensions weighed down on demand and investors kept selling amid increased output. Brent crude contract lost 2.4% to close at $70.76 a barrel. WTI crude dipped by 3% to $65.01 a barrel, due to U.S. production growth.

<READ MORE

Turkey pushes ahead with natural gas infrastructure expansion

16/08/2018 10:17:00

Turkey is pushing ahead with its gas infrastructure expansion plans despite a currency crisis exacerbated by burgeoning tensions with Washington.

READ MORE

Skangas agrees LNG supply deal with Finnsementti

16/08/2018 09:58:00

Finnish LNG company Skangas and cement manufacturer Finnsementti have a deal for the supply of LNG to the Raahe blast-furnace slag plant for production process use.

READ MORE