Daily (10.10.2018): German day-ahead power price declined by more than 13% on Tuesday due to high wind output

10/10/2018 11:00 Daily

news

Global oil prices rose slightly on Tuesday, on signs of falling crude Iranian exports, before the imposition of a new round of U.S. sanctions. Furthermore, a partial shutdown in production in the Gulf of Mexico, ahead of Hurricane Michael heading towards eastern states sustained the upward trend in prices. 


WTI crude oil price, the U.S. benchmark contract, gained 67 cents on Tuesday, representing a 0.9% increase, and traded at $74.96 a barrel. Meanwhile, the international benchmark Brent crude oil futures rose by 1.3% to $85.00 a barrel. 

British wholesale gas prices were bearish on Tuesday, despite lower flows from Norway and rising oil prices. On the curve, Summer 2019 delivery contract settled 2.1% lower at 62.75 p/therm. Meanwhile, NBP spot price was 1% down at 67.4 p/therm. 


European spot power prices slipped on Tuesday due to the availability of more conventional energy sources and wind generation in Germany and France, while demand curbed in a brief early-autumn temperature spike, forecasted to end next week. The German electricity price for day-ahead delivery slumped by 13.1% to settle at 62.17 EUR/MWh, because of limited solar power generation. Likewise, the French equivalent contract lost 9.5% to 68.04 EUR/MWh, due to tight nuclear output.


Along the forward electricity curve, prices fell due to losses in carbon emissions. The German 2019-delivery contract was at 55.3EUR/MWh, or a decrease of 1.9%. Similarly, the French equivalent Cal’19 contract settled 2.1% lower at 59.7 euros/MWh.

 

The European carbon contracts posted losses on Tuesday following the downward evolution in electricity and gas markets, holding on the previous auction’s retreat from a two-week peak. The contract expiring in 2020 closed 5% down at 22.62 euros per tonne.

Daily (15.04.2019): Brent crude climbed by 1% on upbeat Chinese economic data and tight global supply

15/04/2019 11:24:00

Oil prices added gains on Friday following a recovery in Chinese exports last month. The rising U.S. and euro zone bond yields to three-week highs and German growth forecasts also supported prices. Furthermore, involuntary cuts in Venezuela supply and Iran signaled another lift in prices. Brent crude hiked by 1% to $71.55 a barrel , while WTI futures rose by 0.5% to $63.89 a barrel.

<READ MORE

Novovoronezh II-2 cleared for launch

15/04/2019 09:03:00

Unit 2 of the Novovoronezh II nuclear power plant in southwest Russia started the process of physical launch yesterday after having received regulatory approval to do so, Rosenergoatom, the operator subsidiary of state nuclear corporation Rosatom, has announced. The VVER-1200 reactor was brought to the minimum controlled power level on 22 March.

READ MORE

Hungary Offers to Buy 25% of LNG Terminal on Krk

15/04/2019 08:59:00

The Hungarian government has made an offer to buy 25 percent of a LNG terminal that is to be built in Croatia, Hungarian Foreign Minister Peter Szijjarto told journalists in Dubrovnik on Friday, according to MTI news agency.

READ MORE