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

news

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 (12.09.2019): WTI crude lost almost 3% on Wednesday, on news that U.S. might ease sanctions on Iran

12/09/2019 11:31:00

Crude oil prices declined on Wednesday, as U.S. administration could ease sanctions against Iran, thereby inflate global supplies. At the same time, both OPEC and EIA slashed demand forecasts this week. Consequently, WTI crude dropped by 2.9% to $55.75 a barrel, while Brent oil decreased by 2.5% to $60.81 a barrel.

<READ MORE

Poland's energy minister says power prices must stay under control

12/09/2019 08:52:00

Poland’s energy minister, Krzysztof Tchorzewski, said on Wednesday that the country would have to maintain controls on electricity prices to secure economic competitiveness.

READ MORE

UK Dechra's Croatian unit opens 1.5 mln euro solar power plant

12/09/2019 08:48:00

Croatian drug maker Genera, a subsidiary of UK veterinary pharmaceuticals firm Dechra, has officially opened a 1.3 million British pounds (1.5 million euro) solar power plant which will meet a third of the electricity needs of its manufacturing facility in Zagreb, Dechra said on Wednesday.

READ MORE