Daily (19.04.2019): NBP spot tumbled by 7.5% on Thursday due to weaker demand ahead of Easter holidays

19/04/2019 09:51 Daily

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The prospects of a tighter supply due to reduced crude exports from Saudi Arabia coupled with lower oil inventories and fewer active rigs in the U.S. led to a rise in crude oil prices on Thursday. A stronger dollar lent more support to prices. As a result, Brent crude traded 0.5% higher at $71.97 a barrel. In the meantime, WTI futures gained 0.4% to close at $64.00 a barrel.

UK gas prices slumped on Thursday, weighed by sluggish demand due to forecasts for warmer weather and higher wind power output. The NBP spot price tumbled by 7.5% to 33.20 p/therm, while the contract price for delivery in September 2019 dropped by 4.2% to 40.66 p/therm.

Thursday saw a sharp fall in the European day-ahead power prices, on forecasts for reduced consumption ahead of the four-day Easter holiday and higher-than-average temperatures. The price for the German spot power contract dipped by 17.1% to 33.84 EUR/MWh. Meanwhile, the equivalent French contract price sank by 12.6% to 36.30 EUR/MWh.

 

Along the curve, electricity prices also lost ground, tracking the downward evolution in carbon prices and a weaker energy complex. The German power contract for delivery in 2020 edged 0.7% down at 50.65 EUR/MWh. The same decline was noticed in the equivalent French contract, which ended at 53.45 EUR/MWh.

 

EU carbon prices reversed trend to drop on Thursday, as traders aimed at taking profits ahead of the long weekend. The price for the 2020-expiry contract fell by 2.1% to 27.19 EUR/tonne, influenced by a bearish energy complex.

Daily (19.07.2019): NBP spot slumped by 4% on Thursday, due to increased supply and weak demand

19/07/2019 10:07:00

Crude oil prices continued their downward evolution on Thursday, influenced by lower U.S. equities markets. Prices were also weighed by an expected rise in the U.S. offshore oil output, as platforms have been returning to service after the Hurricane Barry passed through the Gulf of Mexico last week. Brent crude sank by 2.7% to $61.93 a barrel, while WTI futures dipped by 2.6% to $55.30 a barrel.

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Eneco inks PPA for 383-MW nearshore Dutch wind farm

19/07/2019 09:01:00

Dutch utility Eneco on Thursday unveiled a power purchase agreement (PPA) for the entire output of the 382.7-MW Fryslan nearshore wind park that is being built in Friesland, the Netherlands.

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SOCAR expands its gas pipeline network in Georgia

19/07/2019 08:54:00

SOCAR Georgia Gas company (Georgian subsidiary of Azerbaijan’s state oil company SOCAR), has increased the length of its gas pipeline network in the neighboring country, Trend reports with reference to the Georgian government.

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