Daily (17.01.2019): Carbon prices jumped by over 3% on Wednesday following an oversized Polish auction

17/01/2019 11:05 Daily


Oil prices edged higher on Wednesday, due to OPEC supply cuts and China’s fiscal stimulus signals. However, gains were capped by increasing U.S. fuel inventories and higher crude oil production. As a result, Brent crude inched up by 1.1% to 61.32 USD/bbl, while WTI futures edged 0.4% higher closing at 52.31 USD/bbl.

British wholesale gas prices were steady in a rather balanced system on Wednesday. NBP spot price rose by 2.2% to 59.25 pence/therm due to colder weather. On the curve, the NBP contract for delivery in Summer 2019 ended 0.2% down at 52.63 pence/therm, as several LNG cargoes are expected towards the end of the week.

European spot power prices fell on Wednesday due to stable wind power output in Germany and increased nuclear generation in France. The German day-ahead electricity price dipped by 5.2% to 42.84 EUR/MWh on Wednesday, while the French equivalent contract traded 1.8% lower at 61.56 EUR/MWh.

Further along the curve, electricity prices continued to gain momentum on Wednesday, tracking stronger carbon and other fuels markets.  The French year-ahead contract gained 1.5% to close at 52.42 EUR/MWh, while the equivalent German contract surged by 1.7% to settle at 48.93 EUR/MWh.

EU carbon prices hiked on Wednesday, as colder weather forecasts, greater Brexit uncertainty, and a bullish result in an oversized Polish auction lent support to the market. As a result, the 2020-expiry contract gained 3.4% to close at 23.88 EUR/tonne.

Daily (17.07.2019): NBP spot plunged by over 16% on Tuesday, due to ample oversupply

17/07/2019 10:43:00

Crude oil prices dipped on Tuesday, after data showed that U.S. crude inventories dropped less than expected last week, as they were only slightly affected by disruptions in the wake of Hurricane Barry in the Gulf of Mexico. Prices were also influenced by the conflicting signals from Tehran and Washington about an alleged reduction of tensions over Iran’s ballistic missile program, as well as by China’s weakest economic growth in 27 years. As a result, Brent crude tumbled by 3.2% to $64.35 a barrel, while WTI futures slumped by 3.3% to $57.62 a barrel.


Equinor and partners begin production from Norwegian Sea’s Trestakk field

17/07/2019 08:32:00

Equinor Energy and its partners ExxonMobil and Vår Energi have started production from the Trestakk field in the Norwegian Sea on time and under budget.


Engie pushes back outage of Belgian Tihange 1 nuclear reactor

17/07/2019 08:29:00

Engie Electrabel, the Belgian subsidiary of French energy group Engie, has postponed the planned outage of one of its nuclear reactors due to a delay in the delivery of some required parts, a spokesman said on Tuesday.