Daily (13.11.2019): British spot gas price spiked by 6.5% on Tuesday on higher gas-for-power demand

13/11/2019 11:31 Daily


Oil prices nudged down on Tuesday on no new details after Donald Trump’s speech about the China-U.S. trade negotiations  Meanwhile, concerns regarding slower economic growth and weaker oil demand still kept prices under pressure.  Brent crude fell by 0.2% to $62.06 a barrel, while WTI futures edged 0.1% lower at $56.80 a barrel. 

The British day-ahead gas price rose on Tuesday as cold weather increased gas-for-power demand. NBP spot surged by 6.5% to 39.03 p/therm. At the same time, the forward contracts traded lower due to an oversupplied system. The 2020 delivery contract closed 1.3% down at 41.21 p/therm.


European day-ahead power prices added ground on Tuesday. German spot power price surged by 11.6% to 47.08 euros/MWh due to higher power demand. Similarly, the French day-ahead electricity price jumped by 16.6% to 56.49 euros/MWh, to hit their highest level in over 9 months on Tuesday, after French utility EDF sent three nuclear reactors offline for earthquake-related tests this week.
Further along the curve, power contracts fell on Tuesday, tracking the downward evolution in gas and carbon prices. The German 2020 delivery contract ended 1.7% lower at 45.45 euros/MWh. The French equivalent contract closed 1.2% lower at 48.06 euros/MWh. 
European carbon prices had a downward trend on Tuesday reaching a one-month low due to bearish technical indicators and Germany’s plans to cancel major coal volumes during 2020 and 2021. Hence, the 2019-expiry contract traded 3.3% lower at 24.12 euros/MWh.

Total’s LNG project in Mozambique to secure $15bn

04/06/2020 09:54:00

Total's planned LNG export facility in Mozambique is to receive $15 billion (267bn rand) of financing commitments from a banking consortium at a signing scheduled for June, according to South Africa's Rand Merchant Bank (RMB), one of the project's backers.


Daily (03.06.2020): EUAs climbed by 5% to above €22 on Tuesday as coal disruptions lifted the energy complex

03/06/2020 10:18:00

Crude oil futures edged higher on Tuesday, with investors hoping for a further cut in black gold production at the next OPEC + summit, which could be brought forward to this week. Brent crude for August delivery soared by $1.25, or 3.3%, to settle at $39.57 a barrel, while U.S. WTI crude for July delivery gained $1.37, or 3.9%, to end at $36.81 a barrel.


Europe is going coal-free, but a vast lignite mine is expanding in eastern Germany and coronavirus has delayed new climate laws

03/06/2020 08:49:00

The landscape makes you think of the surface of the moon. As far as the eye can see, deep gashes scar the earth. At the spot where the giant machines stand, ancient layers of bared coal are visible all the way to the base of the pit.