Daily (16.04.2019): NBP spot plunged by 6.9% on Monday, on milder weather forecasts and new LNG arrivals

16/04/2019 10:34 Daily

news

Oil prices reversed trend registering losses on Monday, after having hit recently a five-month high, on signals that Russia could boost production to strengthen its position on the market. Brent crude edged 0.5% lower at $71.18 a barrel, while WTI Crude dropped by 0.8% to $63.40 a barrel.

British wholesale gas prices lost ground on Monday. NBP spot tumbled by 6.9% to 37.25 p/therm as milder weather forecasts led to an oversupply in the system.  Meanwhile, on the curve, the contract for delivery in October 2019 traded 3.5% lower at 46.77 p/therm, tracking the downward evolution in oil prices.

 

European day-ahead power prices rose on Monday. The price for the German day-ahead power contract rose 0.5% to 41.62 EUR/MWh on a potential rise in German demand. Meanwhile, the equivalent French contract traded 5.3% higher at 45.25 EUR/MWh, influenced by a slip in nuclear and wind power generation.

 

Along the curve, electricity prices varied, being almost constant on Monday. The price for the German power contract for delivery in 2020 nudged up by 0.1% to 50.90 EUR/MWh on rising carbon prices, while the equivalent French contract closed 0.3% down to 53.83 EUR/MWh, affected by a slip in oil and gas contract prices.

 

EU carbon prices extended gains on Monday, recovering from the previous bearish trading activity. The price for the 2021-expiry contract surged by 0.8% to 27.55 EUR/tonne.

Daily (18.06.2019): NBP day-ahead climbed by 6.5% on Monday, due to an undersupply in the system and reshuffle of flows

18/06/2019 09:49:00

Crude oil prices declined on Monday weighed by fears of an economic growth slowdown amid international trade disputes between U.S., China and India. However, the recent attack on two oil tankers in the Middle East limited losses. As a result, Brent crude dropped by 1.7% to $60.94 a barrel, while WTI futures lost 1.1% to settle at $51.93 a barrel.

<READ MORE

Scotland grants marine approval to 800-MW Moray West wind farm

18/06/2019 08:42:00

Scotland has given a marine licence to the roughly 800-MW Moray West offshore wind project in the outer Moray Firth Zone, the government announced on Friday.

READ MORE

Serbia's MK Group to build 8.1 mln euro biomass-fired power plant

18/06/2019 08:39:00

Serbian diversified conglomerate MK Group said on Monday that it plans to invest 8.1 million euro ($9.1 million) in the construction of a biomass-fired power plant in Vrbas, in the northern part of the country.

READ MORE