Daily (12.11.2019): French spot power price surged by over 16% on forecasts for higher demand amid colder weather

12/11/2019 11:17 Daily


Oil prices dropped on Monday due to a lack of direction in the U.S- China trade negotiations. Hence, Brent crude closed 0.5% lower at $62.18 a barrel, while WTI futures fell by 0.7% to $56.86 a barrel.

British gas prices declined on Monday due to an oversupplied system as imports through the Langeled pipeline were at maximum capacity. Moreover, three more LNG cargoes are expected to arrive this week. NBP spot price dropped by 3.9% to 36.65 p/therm. Meanwhile, the Summer 2020 delivery contract ended 1.2% lower at 38.40 p/therm.

European prompt power prices rose on Monday on forecasts for higher demand used for heating due to falling temperatures. The German spot power price surged by 1.2% to 42.20 euros/MWh. The French day-ahead electricity price jumped by 16.2% to 48.45 euros/MWh. 
Further along the curve, contracts were pushed upwards by stronger carbon markets. The German Cal 20’ delivery contract edged 0.1% higher at 46.24 euros/MWh. The French equivalent contract closed 0.3% higher at 48.66 euros/MWh.
European carbon prices were slightly above the €25 level on Monday amid slightly improved economic figures and a satisfactory auction performance. The 2021-expiry contract traded 0.3% higher at 25.31 euros/tonne.

Daily (05.12.2019): Oil prices skyrocketed about 4% on Wednesday ahead of the OPEC meeting

05/12/2019 10:41:00

Crude oil prices skyrocketed on Wednesday, buoyed by hopes of deeper production cuts from OPEC and its allies and following a larger-than-expected drop in U.S. stockpiles. Brent crude soared by 3.6% to settle at $63 a barrel. WTI crude gained 4.2%, closing at $58.43 a barrel. It was its third straight day of gains, and its best day since September.


France's EDF extends Cruas 2 nuclear reactor outage to Saturday

05/12/2019 09:13:00

French utility EDF on Wednesday extended the outage at its 900 MW Cruas 2 nuclear reactor by two days until Saturday, adding that resumption of power generation could be delayed by ongoing safety checks following an earthquake.


Total to supply LNG fuel to CMA CGM vessels for 10 years

05/12/2019 09:09:00

French energy major Total and compatriot shipping company CMA CGM have signed an agreement for the supply of approximately 270,000 tonnes of LNG per year over ten years.