Daily (11.12.2019): UK month-ahead gas price down around 2% due to a potential Kiev-Moscow new gas transit deal

11/12/2019 11:07 Daily


Crude oil prices finished higher on Tuesday, getting a boost after OPEC and its allies decided to deepen oil production cuts by 500,000 bpd, but gains were kept in check as U.S.-China war still puts pressure on demand. Brent crude rose by 9 cents, or 0.1% to settle at $64.34 a barrel on ICE Futures Europe.. WTI crude increased by 22 cents, or 0.4% to close at $59.24 a barrel on NYMEX.

British gas prices were bearish on Tuesday as Kiev and Moscow could reach an agreement on a new gas transit deal before the end of the year to replace a 10-year agreement. The January 2020 gas price dropped by 2.1% to end at 37.46 p/therm, while the gas for year-ahead delivery traded 1.7% down at 36.73 p/therm.

European spot power prices ended on a mixed note on Tuesday, with German spot price down 5.1% at 38.12 EUR/MWh, dragged down by a milder weather forecast. Meanwhile, the French equivalent contract edged 1.8% higher at 46.53 EUR/MWh, after a nationwide strike over planned pension reform reduce power generation by more than 5 GW.


Electricity contracts for year-ahead delivery lost ground tracking a weak energy complex. The German power contract for year-ahead delivery shed 1% at 43.27 EUR/MWh, while the French equivalent contract declined by 1.2% at 46.41 EUR/MWh.

Carbon turned bearish on Tuesday, with prices dipping below the €25-mark as the market was preparing for volatile days ahead. EUAs expiring in 2020 slipped by 0.8% to trade at 25.11 EUR/tonne.

Daily (01.04.2020): WTI crude rebounded by about 2% on Tuesday, but outlook remains gloomy

01/04/2020 10:58:00

Oil futures evolved differently on Tuesday, with Brent crude edging lower at $22.74 a barrel, but showed some signs of improvement in early trading after U.S. President Donald Trump and its Russian counterpart Vladimir Putin agreed to talks on stabilizing energy markets. Meanwhile, U.S. WTI crude rose by 1.9% to settle at 20.48 a barrel.


Turkey's Energy Exchange hits record in spot gas trade

01/04/2020 10:53:00

Turkey's Energy Exchange Istanbul (EXIST) trade volume in spot natural gas market hit Monday a record high for 2020, EXIST data showed on Tuesday.


Covid-19 crash to speed green shift for oil firms – analysts

01/04/2020 10:50:00

The coronavirus outbreak and accompanying oil price crash – which have seen levels slump to near two-decade lows this week – will hasten a green transition among oil and gas majors, analysts told Montel.