Daily (10.09.2019): NBP spot spiked by 6% on Monday, boosted by higher demand and firmer oil prices

10/09/2019 11:25 Daily

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Oil prices extended gains on Monday, after the new Saudi energy minister assured that his country will keep limiting oil production in order to help the oil market reach a better balance. As a result, WTI futures hiked by 2.4% to 57.85 USD/bbl, while Brent crude ended 1.7% higher at 62.59 USD/bbl.

British wholesale gas prices were mixed on Monday. The NBP spot price soared by 6% to 26.50 p/therm, as falling temperatures raised residential consumption. Moreover, a sharp decline in wind generation boosted gas-for-power demand. Firmer oil prices also supported the market. On the other side, the November 2019 delivery contract inched 0.8% lower at 42 p/therm, weighed by bearish carbon prices and upcoming LNG arrivals.

 

European spot power prices continued their upward evolution on Monday amid rising consumption due to a drop in temperatures below seasonal norms in the region. The German day-ahead power price climbed by 2.5% to 36.82 euros/MWh, while the French spot electricity contract posted a 8.6% hike, closing at 35.60 euros/MWh.

 

Further on curve, electricity prices also remained bullish on Monday, influenced by gains in several gas contracts, as well as by higher coal and oil prices. The German Cal20 delivery contract traded up by 0.2% at 47.92 euros/MWh. Similarly, the French equivalent advanced by 0.3% to 49.75 euros/MWh.

 

European carbon prices edged down on Monday amid surging auction supply and current political worries. The 2019-expiry contract settled 0.2% lower at 25.02 euros/tonne, with gains being capped by firmer coal prices and the upward movements in several gas contracts.

Daily (16.09.2019): NBP spot soared by over 13% on Friday amid higher demand after official order to cut Gazprom’s flows

16/09/2019 11:55:00

Crude oil prices traded lower on Friday, amid worries over global economic slowdown and thinner oil demand. WTI futures fell by 0.4% to $54.85 a barrel, while Brent crude edged 0.3% down at $60.22 a barrel, heading for the first weekly fall in three and five weeks respectively. Nevertheless, crude prices are expected to spike after a drone attack on two Saudi Aramco oil facilities on Saturday, which slashed by 50% Saudi Arabia’s oil output, or the equivalent of 5% in the global oil supply.

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EBRD extends renewable energy programme for Kazakhstan

16/09/2019 09:27:00

The EBRD is pledging fresh funds to support Kazakhstan’s drive as a regional leader to promote renewable energy, with the help of a second phase of the Bank’s Kazakhstan Renewables Framework of up to €300 million, the Bank reported.

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Germany's Notus to add 270 MW wind capacity in Ukraine

16/09/2019 09:24:00

Germany-based Notus Energy Group intends to build 270 MW of wind parks in Ukraine that will kick off operations by 2021, it said last week.

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