Daily (15.11.2019): The German spot power contract lost 16.4% on Thursday, amidst a sharp rise in wind output

15/11/2019 11:07 Daily

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A build in U.S. crude inventories and higher oil production reported for this week put pressure on crude oil prices on Thursday. However, OPEC’s potential deepening of supply cuts later this year limited losses. Hence, Brent crude fell by 0.1% to $62.28 a barrel, while WTI futures dropped by 0.6% to $56.77 a barrel.

UK gas prices on the curve strengthened on a quiet trade on Thursday, influenced by the risk of a potential higher than expected demand of gas used for power next week. Consequently, the price for delivery in Q2 2020 rose by 1.4% to 38.53 p/therm. In the meantime, NBP spot fell by 0.8% to 38.20 p/therm, due to oversupply.

 

European spot electricity prices were mixed on Thursday. The price for the German day-ahead power contract plunged by 16.4% to 37.90 EUR/MWh, influenced by a sharp rise in renewables output and a fall in demand. Meanwhile, the price for the equivalent French contract rose by 8.2% to 57.41 EUR/MWh, due to an increase in electricity demand and a drop in supply.

Forward power prices extended their decline on Thursday, in reaction to the fall in carbon prices. The German power contract for delivery in 2020 traded 0.5% down at 45.35 EUR/MWh. The equivalent French contract price stayed flat at 48.03 EUR/MWh.

 

EU carbon prices reached a new 1-month low on Thursday on milder weather outlook and weak technical indicators. The price for the contract expiring in 2019 decreased by 1.8% to 23.96 EUR/tonne.

Daily (10.01.2020): EUAs bounced back above €24-mark on Thursday amid a technical recovery, bullish energy context

10/01/2020 10:52:00

Crude oil futures ended slightly lower on Thursday as the U.S. and Iran seemed to step away from their conflict, with traders focusing instead on data showing a big increase in U.S. crude oil inventories.

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Bulgartransgaz to acquire 20% interest in Greek LNG terminal

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According to SeeNews, Bulgaria's government said that it has issued approval to gas transmission system operator Bulgartransgaz to acquire 20% interest in Gastrade - the company developing a floating liquefied natural gas (LNG) terminal off Greece's northern coastal city of Alexandroupolis.

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Natural Power on point for 2GW grid link

10/01/2020 09:07:00

Renewables consultancy Natural Power has helped to secure consent for the 2GW AQUIND interconnector between southern England and northern France.

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