Daily (20.05.2019): NBP spot price slumped by 7.5% on Friday amid system oversupply

20/05/2019 11:11 Daily


Oil prices lost momentum on Friday, weighed by persistent concerns over a weakening demand because of the stalemate in the U.S.-China trade negotiations. However, the decline in the Iranian and Russian exports along with reduced shipments from the North Sea capped losses. As a result, Brent crude retreated by 0.6% to 72.21 USD/bbl. In the meantime, WTI Crude price slipped by 0.2% to 62.76 USD/bbl.

British gas prices continued to decrease on Friday amid system glut driven by the ample level of available and incoming supplies, with the NBP spot price slumping by 7.5% to 29.50 p/therm. On the curve, the contract for delivery in September 2019 traded 2.7% down at 36.41 p/therm.


Forecasts for warmer temperatures and lower consumption in the coming week led to a drop in the European day-ahead electricity prices on Friday. The price for the German spot power contract tumbled by 13.4% to 37.19 EUR/MWh, on expectations for relatively high hydropower and wind generation. At the same time, the equivalent French contract price sank by 12.5% to 36.85 EUR/MWh.


On the curve, power prices were seen in a downward trend as well, influenced by a bearish energy complex. The price for the German power contract for delivery in 2020 fell by 2.1% to 48.37 EUR/MWh. The equivalent French contract closed at 51.43 EUR/MWh, posting a 1.8% daily loss.


The declining gas prices and a weaker energy complex kept the EU carbon prices under pressure on Friday. The 2019-expiry contract price decreased by 2.2% to 25.00 EUR/tonne.

Daily (03.07.2020): Brent and WTI settled on Thursday at their highest levels since March amid lower U.S. unemployment rate

03/07/2020 09:49:00

Crude oil futures posted a second consecutive day of gains on Thursday, with Brent and WTI hitting their highest levels since March 6, after a decline in U.S. unemployment rate and a sharp drop in crude stockpiles earlier this week. Hence, Brent crude for September delivery soared by $1.11, or 2.64%, to settle at $43.14 per barrel. At the same time, U.S. WTI crude edged 83 cents higher, or 2.08%, to end at $40.65 per barrel.


RWE wraps up acquisition of Innogy's renewable energy ops

03/07/2020 09:40:00

German energy major RWE AG said on Wednesday that its complex asset-swap with rival E.on SE is now fully completed, creating a massive renewable energy business.


Polish govt agrees offshore wind cooperation with sector players

03/07/2020 09:34:00

The government of Poland and representatives of the offshore wind industry have entered into a letter of intent that outlines their future cooperation in the development of the particular sector.