Daily (17.06.2019): German spot power price dropped by more than 26% on Friday due to lower than expected demand

17/06/2019 10:47 Daily

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Oil prices rose on Friday, after attacks on two oil tankers in the Gulf of Oman increased supply concerns. Prices were tempered by worries that trade disputes would lead to lower global oil demand. Brent oil rose $0.7, or 1.1%, to $62.01 a barrel. WTI crude edged up by $0.23, or 0.4%, to $52.51 a barrel.

Expected warmer weather alongside with lower residential demand weighed on British wholesale gas prices on Friday. The NBP day-ahead gas price dropped by 1.4 pence, or 4.6%, to 29.25 p/therm. Meanwhile, Winter 2019 delivery contract settled 1.3% lower at 51.42 p/therm.

 

European power prices fell on Friday due to forecasted lower demand. The German day-ahead electricity price tumbled by 26.5% to 30.58 euros/MWh. The French spot power price sank by 19.5% to 27.79 euros/MWh.

 

Further along the curve, the price for the German year-ahead electricity contract edged down to 47.53 euros/MWh. while the French equivalent contract price reached 50.55 euros/MWh.

 

European carbon prices inched up on Friday, anticipating the upcoming full auction week. The carbon contract expiring in 2021 closed slightly higher at 25.73 euros/tonne.

 

Daily (27.05.2020): Energy prices recovered on Tuesday on strong optimism for a recovery in demand

27/05/2020 14:29:00

Oil prices continued the bullish evolution due to a possible extension of current oil production cuts beyond June after OPEC+ countries will meet at the beginning of next month.

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Uniper signs contract for planned German LNG terminal

27/05/2020 09:28:00

German power producer Uniper has signed a contract to build and charter an LNG terminal vessel for a planned project in Wilhelmshaven with Japanese partner Mitsui OSK Lines (MOL), it said on Tuesday.

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Yamal-Europe pipeline gas flows dive

27/05/2020 09:23:00

Deliveries along the Yamal-Europe pipeline dropped sharply on 24-25 May and were nominated even lower today, likely driven by weaker European demand for Russian gas.

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