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 (02.06.2020): The British spot gas dived by 5.6% on Monday after the resumption of Russian flows

02/06/2020 09:18:00

Crude oil futures diverged on Monday, with Brent crude for August delivery surging by 8.5% to close at $38.32 a barrel amid hopes that OPEC+ producers will meet this week, earlier than previously planned, to discuss about a further extension of output cuts. Meanwhile, U.S. WTI crude was rather stable at $35.49 a barrel, but under the effect of increasingly hostile relations between the United States and China.

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Biomass-fired power took a record share of the UK generation mix for the second consecutive month in May. Overall UK power demand continued to decline as the country remained in lockdown to limit the spread of Covid-19.

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