Daily (14.09.2018): Power and gas markets turned bearish on Thursday, after a 18% decline in carbon prices

14/09/2018 11:08 Daily

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Oil crude prices lost momentum on Thursday, mainly due to investors’ focus on mounting trade tensions between the world’s major economies, the U.S. and China, that could threaten demand. Brent crude ended 2% down at $78.18 a barrel. Meanwhile, WTI crude price tumbled by 2.5% to $68.59 a barrel, despite a larger-than-expected draw in U.S. inventories.

Even though Norwegian flows decreased, UK wholesale gas prices fell on Thursday, as stronger supplies from storage generated a surplus on the market. As a result, NBP spot price dropped sharply by 4.1% to 69.90 p/therm. On the forward curve, Winter 2018 delivery contract was 2.4% lower at 75.81 p/therm.

 

On Thursday, European year-ahead power prices slumped, following the downward trend in carbon and fuels markets. The French contract for 2019 delivery traded 5.7% lower at 58.35 euros/MWh, while German equivalent contract settled 6.2% down at 52.65 euros/MWh.

 

Prompt electricity prices were also bearish, due to higher wind generation in Germany, and increased nuclear availability in France. The German day-ahead price for Friday delivery shed by 9.3% to end at 64.84 euros/MWh. The French equivalent contract lost 6.8% to close at 66.25 euros/MWh. 

 

European carbon prices considerably declined on Thursday in a weak auction, as traders made bearish bets after the recent increase. The 2021-expiry contract price lost 16.6% to end at 20.40 euros a tonne, posting the biggest daily loss since 2006.

Daily (15.02.2019): EU carbon prices slumped by around 6% to hit again a 2-month low on Thursday

15/02/2019 11:38:00

Oil prices surged on Thursday, backed by OPEC-led supply cuts and expectations for a potential end to the U.S.-China trade talks. Brent oil extended a three-day winning streak, posting a 1.5% daily gain to settle at $64.57 a barrel. WTI crude rose less, by nearly 1% to $54.41 a barrel, as gains were limited by the lowest U.S. retail spending data since 2009 which raised worries over slower global economic growth.

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BP-AKR plans to have 350 fuel stations by 2028

15/02/2019 09:31:00

Publicly listed fuel trader PT AKR Corporindo and British oil and gas company BP have already opened four fuel stations in Indonesia under a joint venture established by the companies. By 2028, they hope to raise the number of stations to 350.

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EnBW, Energiekontor sign PPA for 85-MW solar park in Germany

15/02/2019 09:25:00

German utility EnBW Energie Baden-Wuerttemberg AG (ETR:EBK) has signed a 15-year power purchase agreement (PPA) for the output of a 85-MW solar park in northeastern Germany that will be built by project developer Energiekontor AG (ETR:EKT).

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