Daily (14.03.2019): Electricity prices on the curve slumped by around 3% on Wednesday due to weaker coal and carbon markets

14/03/2019 11:09 Daily

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Oil prices rose on Wednesday following a strong decline in U.S. inventories and due to sanctions that stalled exports from Venezuela. Brent crude added $0.88, or 1.3%, to close at $67.55 a barrel. WTI futures settled 2.4% higher at $58.26 a barrel.

British wholesale gas prices fell on Wednesday as high wind output reduced gas demand for power generation. NBP day-ahead gas price lost 1.15 pence, or 2.8% to end at 39.55 p/therm, while April 2019 delivery contract traded 3.6% lower at 39.26 p/therm.


European spot power prices surged on Wednesday.  The German day-ahead power price jumped by 80.3% to 32.54 euros/MWh on forecasts for weaker wind power generation and higher electricity demand. The French spot electricity price rose by 21.6% to 35.13 euros/MWh, on expectations for lower solar generation.


Further on the curve, electricity prices declined on Wednesday, due to lower coal and carbon emission prices. The German year-ahead power contract settled 3.4% lower at 46.79 euros/MWh, while the French equivalent one traded 3.2% lower at 49.83 euros/MWh.


European carbon prices tumbled to a one-week low of €22 on Wednesday as traders were confused ahead of the Brexit decision. The carbon contract expiring in 2020 closed 0.2% down at 22.67 euros/tonne.

Lukoil may sign agreement on new offshore block in Kazakhstan

21/03/2019 09:23:00

Russian energy company Lukoil will be ready to sign an agreement with Kazakhstan on a new offshore project in the Caspian Sea this May, CEO of the Russian oil producer Vagit Alekperov told Tass.

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Aker BP makes oil and gas discovery near North Sea’s Bøyla field

21/03/2019 09:10:00

The oil and gas discovery by Aker BP was made through the drilling of wildcat well 24/9-14 S and a horizontal appraisal well, called 24/9-14 A, in the Froskelår Main prospect located the Alvheim area.

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Daily (20.03.2019): EU carbon prices fell by more than 3% on Tuesday, due to a bearish energy complex and continued Brexit uncertainty

20/03/2019 10:12:00

Crude prices diverged slightly on Tuesday. On one side, prices were supported by OPEC-led supply cuts OPEC. On the other side, rising U.S. output put pressure on the market. Brent crude edged 0.1% higher at $67.61 a barrel, while WTI crude traded 0.1% lower at $59.03 a barrel.

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