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


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.


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.


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.