Daily (16.05.2018): NBP day-ahead gas contract lost 1.4% on Tuesday due to an oversupplied system

16/05/2018 11:23 Daily


Oil prices surged on Tuesday on concerns that U.S. sanctions on Iran might limit crude exports from one of the most important producers in the Middle East. Brent futures added $0.2, or 0.3%, to close at $78.43 a barrel. WTI crude gained $0.35, or 0.5%, to end to $71.31.

British wholesale gas prices were mixed on Tuesday. UK day-ahead gas price lost 0.75 pence, or 1.4%, to settle at 55.00 p/therm, due to an oversupplied system. Meanwhile, Winter 2018 delivery contract traded slightly higher at 62.75 p/therm, on forecasts for cooler weather.

European prompt power prices slumped on Tuesday because of higher wind power output. German spot baseload power price dropped by 2% to 41.60 euros/MWh. French day-ahead electricity price fell by 13.5% to close at 37.23 euros/MWh.

Along the forward curve, prices rose due to bullish fuels and carbon emission right markets. German Cal 19’ European benchmark closed 0.6% higher at 41.44 euros/MWh. Meanwhile, French equivalent contract gained 0.7% to end at 46.30 euros/MWh.

EU carbon prices declined on Tuesday after prolonging a recent seven-year peak in early trade and following another weak auction. The carbon contract expiring in 2019 closed 2.2% lower at 14.48 euros/tonne.

Norway opens up to offshore wind – plans floating projects to help industry

16/08/2018 09:53:00

Norway’s minister of petroleum and energy, Terje Søviknes, is to open two areas on the Norwegian continental shelf for offshore wind projects.


Daily (15.08.2018): Bullish UK gas forward prices on Tuesday, due to upcoming maintenance at Kollsnes

15/08/2018 11:32:00

Increasing trade tensions between US and China led to a decline in oil prices on Tuesday. Brent crude edged 0.2% lower at $72.46 a barrel, due to a pessimistic economic outlook and predictions of reduced demand. Meanwhile, WTI crude ended 0.2% down at $67.04, following the rise in crude inventories.


TANAP to strengthen Turkey's energy security - minister

15/08/2018 08:26:00

Trans-Anatolian Natural Gas Pipeline (TANAP) will strengthen Turkey’s energy security and contribute to the diversification of energy sources, Minister of Energy and Natural Resources of Turkey Alparslan Bayraktar said, Turkish media reported.