Daily (16.10.2019): The EUAs spiked by around 6.4% on Tuesday after an optimistic breakthrough in Brexit process

16/10/2019 11:14 Daily

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Crude oil prices extended their fall on Tuesday, as the uncertain outlook for the Sino-American trade negotiations, coupled with indicators of an economic slowdown in China fueled worries over global crude demand. The high level of U.S. crude stocks added pressure on prices. Consequently, WTI futures lost 1.5% to close at $52.81 a barrel, while Brent crude traded 1% down at $58.74 a barrel. However, hopes for a timely Brexit deal and signals of possible oil supply cuts from OPEC reduced losses.

British forward gas prices dipped on Tuesday, tracking bearish oil prices. Seven LNG tankers due to arrive in Britain before November 5 also weighed on the market. Therefore, the price for delivery in March 2020 settled 1.6% lower at 49 p/therm. Meanwhile, robust gas-for-power demand and next-day forecasts for increased residential consumption supported the NBP spot price on Tuesday, which climbed further by 1.2% to 28.50 p/therm, amid overall weaker Norwegian flows to continental Europe. 

 

European day-ahead electricity prices fell back on Tuesday on expectations of stronger wind power output in the region. The price for the German spot power contract retreated by 9.7% to 39.46 EUR/MWh. At the same time, the equivalent French contract ended at 41.20 EUR/MWh, posting a 5.6% daily decline, in anticipation of limited demand.

 

A sharp rebound in the carbon market stimulated power prices on the curve on Tuesday. The 2020-delivery German power contract firmed by 0.6% closing at 48.42 EUR/MWh. The equivalent French contract edged up by 0.3% at 51.33 EUR/MWh.

 

Important progress in Brexit talks gave a strong boost to the EU carbon market, with EUAs hitting a three-week high on Tuesday. The price for the contract expiring in 2019 soared by 6.5% to 25.71 EUR/tonne.

Daily (11.11.2019): NBP spot jumped by 7.2% on Friday due to colder weather

11/11/2019 11:08:00

Oil prices inched up on Friday despite U.S President Donald Trump not agreeing to decrease tariffs on China, but still accepting a potential deal to be struck by the end of the month. Hence, Brent crude traded 0.4% higher at $62.51 a barrel. WTI futures edged 0.2% higher at $57.24 a barrel.

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Aker BP plans early startup at Norway's Aerfugl gas field

11/11/2019 10:19:00

Oil and gas firm Aker BP will accelerate the startup of production from Norway’s Aerfugl natural gas field, the company said on Monday.

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Olkiluoto EPR start-up delayed by final checks

11/11/2019 10:17:00

Areva-Siemens has told TVO the final verification of the mechanical, electrical and the instrumentation and control (I&C) systems has to be done carefully and to a high standard.

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