Daily (12.10.2018): NBP spot price plummeted by almost 9% on Thursday, due to an oversupplied system

12/10/2018 11:24 Daily

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Oil crude prices ended lower on Thursday, following a drop in global stock markets, as the Dow Jones took its biggest plunge since February on Wednesday. Moreover, the investor sentiment was affected by an industry report, which revealed an unexpected rise in U.S. crude oil supply. Consequently, the WTI crude closed 3% down at $70.97 a barrel, while Brent oil fell by 3.4% to $80.26 a barrel. 

British wholesale gas prices were strongly bearish on Thursday, as a dip in oil prices and above average temperatures coupled with a high wind supply curbed the demand for gas. NBP spot price plunged by 8.7% to reach 71.50 p/therm. Further along the curve, the Summer 2019 delivery contract settled 2.1% lower at 59.69 p/therm.

European spot power prices were mixed on Thursday. As such, the electricity price for day-ahead delivery gained 4.5% to settle at 56.77 EUR/MWh in Germany, due to anticipations of a fall in wind power output. Meanwhile, the equivalent contract in France dropped by 5.9% to end at 61.49 EUR/MWh, on expectations for lower demand.

 

Along the forward electricity curve, contracts experienced extended losses on Thursday amid a period of intense selling of CO2 European Emission Allowances triggered by declining prices, as well as wider market weakness. The German 2019-delivery contract dropped by 2.5% to end at 51.96 EUR/MWh. Meanwhile, the French equivalent contract traded 2.7% down at 56.07 EUR/MWh.

 

On Thursday, the European carbon contracts recovered from losses posted earlier in the week, despite mostly lower energy prices. The price for the contract expiring in 2021 was 0.8% higher at 22.48 euros a tonne.

 

BSOG, partners get green light for development plan of two gas fields in Romania

16/04/2019 08:50:00

Romania-based Black Sea Oil & Gas (BSOG) and its co-venture parthers have received the approval of the country's National Agency for Mineral Resources of their field development plan (FDP) for the Ana and Doina natural gas fields, BSOG said on Monday.

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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.

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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.

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