Daily (19.03.2019): NBP gas prices continued to fall by around 1% on Monday due to oversupply

19/03/2019 10:13 Daily


Crude oil prices inched up on Monday supported by the extension of OPEC-led supply cuts and a decline in U.S. crude inventories. Brent crude edged 0.6% higher at $67.54 a barrel, while WTI futures traded 1% higher at $59.09 a barrel.

British gas prices continued their bearish evolution on Monday, as robust flows and six new LNG tankers to arrive this week are expected to leave the system oversupplied. NBP spot fell by 0.5% to 38.10 p/therm, while the contract for delivery in Q3 2019 lost 0.7% closing at 38.91 p/therm.


Colder weather and waning supply boosted European spot power prices on Monday. The price for the German day-ahead power contract soared by 163.3% to 45.34 EUR/MWh, while the equivalent French contract traded 155.3% higher at 45.31 EUR/MWh, on reduced nuclear power availability.


Along the curve, electricity prices lost ground, tracking lower gas, coal and carbon prices. The price for the German power contract for delivery in 2020 dropped by 1.8% to 45.79 EUR/MWh, while the equivalent French contract ended 1.4% down at 48.92 EUR/MWh.


EU carbon prices fell to the lowest level this month, due to a bearish energy complex. The price for the 2021-expiry contract decreased by 2.9% to 22.66 EUR/tonne.

Daily (14.05.2019): NBP day-ahead price tumbled by 8.1% on Monday, due to milder weather forecasts

14/05/2019 11:01:00

Crude oil prices lost ground on Monday, as China-US trade negotiations escalated further, and China claims to impose higher tariffs on a range of U.S. goods. Investors fear that the trade war can intesify and cause disturbances in global economy. As a result, Brent crude edged 0.6% lower to $70.23 a barrel, while WTI futures traded 1% lower at $61.04 a barrel.


Russia’s Novatek could almost triple Vysotsk LNG capacity

14/05/2019 08:50:00

Russia’s Novatek, the operator and developer of two giant Arctic LNG export projects, may significantly increase output at its medium-scale liquefied natural gas export plant in Russia’s Baltic Sea port of Vysotsk.


Equinor increases stake in Gulf of Mexico oilfield

14/05/2019 08:47:00

Norwegian oil company Equinor has increased its stake in the Caesar Tonga oilfield in the U.S. Gulf of Mexico by buying Royal Dutch Shell’s 22.45% stake for $965 million in cash.