Daily (16.05.2019): British forward gas prices rose by almost 2% on Wednesday, tracking the bullish trend in oil prices

16/05/2019 10:36 Daily


Crude oil prices rose on Wednesday, due to the conflict in the Middle East that could disturb global supplies. Meanwhile, a surprise rise in U.S. crude stocks limited the gains. Brent crude climbed by 0.7% to $71.77 a barrel, while WTI futures settled 0.4% up at $62.02 a barrel.

British gas prices were mixed on Wednesday. NBP spot declined by 0.6% to 32.00 p/therm, amid an oversupply in the system. Along the curve, gas prices reversed trend, adding gains due to an upward evolution of oil prices. The contract for delivery in Q3 2019 ended 1.5% higher at 35.63 p/therm.


European day-ahead power prices lost ground on Wednesday. The price for the German day-ahead power contract decreased by 2.7% to 39.73 EUR/MWh on high wind power output. Meanwhile, the equivalent French contract closed 2.4% down at 39.73 EUR/MWh, due to weak consumption and an increase in nuclear supply.


Along the curve, electricity prices inched up, tracking higher carbon and oil prices. The price for the German power contract for delivery in 2020 rose by 1.2% to 49.19 EUR/MWh, while the equivalent French contract traded 1.1% up at 52.21 EUR/MWh.


EU carbon prices added gains on Wednesday, after Donald Trump made a statement to soften EU trade tariffs. The price for the 2019-expiry contract traded 0.3% higher at 25.97 EUR/tonne.

Gazprom makes huge Siberian gas discovery

20/05/2019 09:16:00

Russia's state-owned Gazprom Friday announced a 17-trillion-cubic-foot gas discovery in Siberia, Kallanish Energy reports.


Wind park of 102 MW opens to power Philips in Netherlands

20/05/2019 09:10:00

The 102-MW Windpark Krammer facility in the southwest of the Netherlands was officially opened this week in a ceremony attended by King Willem-Alexander.


Daily (17.05.2019): Brent crude added 1.2% on Thursday, due to rising tensions in the Middle East

17/05/2019 09:37:00

Oil prices extended momentum on Thursday, on rising tensions in the Middle East, as Saudi Arabia responded to its recent attacks on its crude oil firm by launching air strikes on the Houthi-held capital Sanaa. Brent crude rose by 1.2% to $72.62 a barrel, while WTI Crude increased by 1.4% to $62.87 a barrel.