Daily (11.04.2019): The EU carbon prices hit a new 11-year high on Wednesday on Brexit delay optimism

11/04/2019 10:19 Daily

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Crude oil prices increased on Wednesday, after EIA report showed that U.S. gasoline stocks plunged more than expected last week, offsetting the surging crude inventories. OPEC’s oil production at four-year low in March coupled with U.S. sanctions on Iran and Venezuela lent more support to prices. Brent crude price rose by 1.6% to $71.73 a barrel, while WTI futures traded 1% up at $64.61 a barrel.

British wholesale gas prices reversed the strong earlier gains on Wednesday, ahead of five LNG cargoes to arrive in Britain by April 20. The NBP spot price slumped by 4.3% to 40.40 p/therm. In the meantime, the contract price for delivery in August 2019 tumbled by 4.6% to 41.58 p/therm. 

 

The European day-ahead electricity prices continued to climb on Wednesday, due to cold weather forecasts and consequently firmer demand. The German spot power price surged by 4.5% to 44.74 EUR/MWh, supported by a drop in wind generation. Meanwhile, the equivalent French contract traded at the same price as the German one, posting a 1.5% hike, amid lower nuclear availability and reduced hydropower supply due to a 24-hour strike.

 

Along the forward curve, power prices added ground on Wednesday, bolstered by hiking carbon prices. The German power contract for delivery in 2020 ended 3.9% higher at 51.34 EUR/MWh. The equivalent French contract price jumped by 3.7% to close at 54.44 EUR/MWh.

 

The European carbon prices extended gains on Wednesday, reaching a fresh 11-year high, on signs of a looming Brexit delay. The price for the 2020-expiry contract spiked by 2.3% to 26.43 EUR/tonne.

Daily (15.07.2019): NBP spot surged by 4.7% on Friday, due to rising gas-for-power demand ahead of an expected 3-day hot spell

15/07/2019 10:29:00

Crude oil prices slightly rose on Friday, after a tropical storm in the Gulf of Mexico caused disruptions in the local production, while tensions between Iran and the West continued to mount. Consequently, Brent crude traded 0.3% higher at $66.72 a barrel. However, forecasts for a global oil supply glut from the International Energy Agency and OPEC limited the gains, with WTI futures remaining almost flat at $60.21 a barrel.

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Masdar, Armenia sign MoU for 500 MW of wind, solar capacity

15/07/2019 08:29:00

Armenian National Interests Fund (ANIF) on Friday signed a memorandum of understanding (MOU) with Abu Dhabi Future Energy Company, better known as Masdar, for the development of 500 MW of renewable energy capacity.

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Polskie LNG hits 1000 LNG tank trucks milestone at Swinoujscie

15/07/2019 08:27:00

Polish LNG terminal operator, Polskie LNG, said it has reached a milestone at the President Lech Kaczyński facility in Świnoujście.

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