Daily (10.10.2017): British spot gas price rose 3.1% on Monday due to lower flows from Norway

10/10/2017 11:16 Daily


Oil prices surged on Monday after one of the most bearish weeks in months, encouraged by OPEC comments indicating the possibility of continued action to reinstate market balance in the long term. 

Brent crude traded 17 cents, or 0.3%, higher at $55.79 a barrel. Earlier in the session it touched a three-week low of $55.06. Last week, it settled 3.3 percent down, its biggest weekly loss since June 2017.


U.S. West Texas Intermediate crude futures was at $49.58 a barrel, up 29 cents. Earlier in the session, WTI price came close to a four-week low when it fell to $49.13. WTI posted a weekly loss of 4.6 percent last Friday.


Most of the British wholesale gas contracts rose on Monday because of lower flows from Norway. NBP day-ahead gas price jumped by 1.50 pence, or 3.1%, to close at 49.4 pence per therm. Along the forward curve, the Q1 2017 delivery contract was 0.12 pence, or 0.2%, up at 52.61 p/therm.

Increasing wind power supply weighed on German prompt power prices on Monday, while those in France were higher due to worries about tightness in nuclear power supplies. German baseload for Tuesday delivery shed 11.9 percent to 37.32 euros/MWh, while the equivalent French day-ahead price rose 9.2 percent to 58.31 euros/MWh.


Along the forward power curve, prices tracked lower levels in related fuels markets. Germany year-ahead contract slipped 0.7 percent to 35.19 euros/MWh. The French contract for 2018 delivery fell 0.6 percent to 42.40 euros/MWh.


EU carbon prices on Monday edged lower as observers informed that European lawmakers might fail to make good on their target to accomplish post-2020 ETS reform discussions this week.  December 2018 expiry EU carbon permits closed 0.6% down at 6.99 euros a tonne. 

Daily (05.12.2019): Oil prices skyrocketed about 4% on Wednesday ahead of the OPEC meeting

05/12/2019 10:41:00

Crude oil prices skyrocketed on Wednesday, buoyed by hopes of deeper production cuts from OPEC and its allies and following a larger-than-expected drop in U.S. stockpiles. Brent crude soared by 3.6% to settle at $63 a barrel. WTI crude gained 4.2%, closing at $58.43 a barrel. It was its third straight day of gains, and its best day since September.


France's EDF extends Cruas 2 nuclear reactor outage to Saturday

05/12/2019 09:13:00

French utility EDF on Wednesday extended the outage at its 900 MW Cruas 2 nuclear reactor by two days until Saturday, adding that resumption of power generation could be delayed by ongoing safety checks following an earthquake.


Total to supply LNG fuel to CMA CGM vessels for 10 years

05/12/2019 09:09:00

French energy major Total and compatriot shipping company CMA CGM have signed an agreement for the supply of approximately 270,000 tonnes of LNG per year over ten years.