Daily (14.05.2019): NBP day-ahead price tumbled by 8.1% on Monday, due to milder weather forecasts

14/05/2019 11:01 Daily

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Crude oil prices lost ground on Monday, as China-US trade negotiations escalated further, and China claims to impose higher tariffs on a range of U.S. goods. Investors fear that the trade war can intesify and disturb global economy. As a result, Brent crude edged 0.6% down to $70.23 a barrel, while WTI futures traded 1% lower at $61.04 a barrel.

British gas prices declined on Monday, due to warmer weather forecasts that reduced demand and left the system oversupplied. NBP day-ahead plunged by 8.1% to 33.30 p/therm, while the contract for delivery in May 2020 closed 0.2% down at 43.94 p/therm.

 

European day-ahead power prices increased on Monday on rising electricity demand. The price for the German day-ahead power contract surged by 9% to 41.01 EUR/MWh, due to a fall in wind electricity output and colder temperatures in the region. Meanwhile, the equivalent French contract soared by 21.7% to 40.57 EUR/MWh, due to lower nuclear capacity availability.

 

Along the curve, electricity prices nudged down, tracking a fall in carbon and coal prices. The price for the German power contract for delivery in 2020 slipped by 0.1% to 49.08 EUR/MWh, while the equivalent French contract settled 0.3% lower at 52.08 EUR/MWh.

 

EU carbon prices extended losses on Monday, after breaching technical support levels, as investors worry about the China-US trade negotiations. The price for the 2020-expiry contract ended 2.3% down at 25.28 EUR/tonne.

Daily (17.05.2019): Brent crude added 1.2% on Thursday, due to rising tensions in the Middle East

17/05/2019 09:37:00

Oil prices extended momentum on Thursday, on rising tensions in the Middle East, as Saudi Arabia responded to its recent attacks on its crude oil firm by launching air strikes on the Houthi-held capital Sanaa. Brent crude rose by 1.2% to $72.62 a barrel, while WTI Crude increased by 1.4% to $62.87 a barrel.

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Irish wind hit 37% high in Q1

17/05/2019 09:01:00

Wind’s share in Ireland’s electricity rose 2% to 37% in the first quarter of 2019, compared with the same period in 2018, according to the Irish Wind Energy Association (IWEA).

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Lukoil starts operations of two wells at D41 field in Baltic Sea

17/05/2019 08:51:00

LUKOIL has announced the commencement of commercial operation of two wells at D41 offshore field in the Baltic Sea.

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