Daily (11.06.2019): NBP spot jumped by 7.2% on Monday, due to annual maintenance works in Norway

11/06/2019 10:31 Daily


Crude oil prices fell on Monday as Russia and Saudi Arabia didn’t yet agree on extending an output cutting deal, while US-China trade negations are still far from a positive outcome. As a result, Brent crude dropped by 1.6.% to $62.29 a barrel on Friday, while WTI futures lost 1.4% to settle at $53.26 a barrel.


Gas prices spiked on Monday, as maintenance works in Norway reduced flows in the system, while demand remained stable. Chillier weather and fewer LNG imports also supported prices. As a result, NBP day-ahead climbed by 7.2% to 30.40 p/therm, while the contract for Q1 20 delivery closed 2.3% up at 57.72 p/therm.


European day-ahead power prices reversed to their normal values on Monday, as EPEX resolved the technical issue that occurred in the previous trading session. The price for the German day-ahead power contract soared 193.8% back to 44.67 EUR/MWh, while the equivalent French contract closed 68.5% up at 40.33 EUR/MWh.


Forward electricity prices also climbed, tracking higher carbon and gas prices. The price for the German power contract for delivery in 2020 edged 0.9% higher at 48.10 EUR/MWh, while the equivalent French contract traded 0.8% higher at 51.16 EUR/MWh.


EU carbon prices added momentum on Monday, due to a lack of an auction and a public holiday across the major part of the continent. The price for the contract expiring in 2021 rose by 2.8% to 25.92 EUR/tonne.

Daily (02.04.2019): British gas prices near 2009 lows on Wednesday, due to weak demand

02/04/2020 11:30:00

Crude oil prices were bearish on Wednesday, weighed by a steep rise in U.S. crude inventories last week, the biggest weekly rise since 2016, while gasoline demand continued to decline. Consequently, Brent crude for June delivery traded 6.1% lower at $24.74 a barrel. Similarly, WTI futures slid by 0.8% to $20.30 a barrel.


Germany 'closes in' on 2020 renewables goal

02/04/2020 09:49:00

Germany is likely to achieve its binding EU renewable target for 2020, according to the latest figures from the country's federal environment agency.


CO2 may plumb fresh lows this month on virus impact

02/04/2020 09:45:00

The coronavirus pandemic is likely to maintain pressure on carbon prices in April, potentially sending them to fresh two-year lows as the world locks down communities to reverse the pace of infections.