Daily (20.06.2019): NBP spot tumbled by more than 10% on forecasts for stronger LNG supply and warmer weather

20/06/2019 10:53 Daily

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Calmer U.S equity markets led to a decline in oil prices on Wednesday. Brent crude ended 32 cents, or 0.5%, down at $61.82 a barrel. Meanwhile, WTI futures lost $0.14, or 0.3%, to close at $53.76 a barrel.

UK gas prices dropped on Wednesday on expectations for new LNG supply and higher temperatures for the next week. NBP spot price fell 3.05 pence, or 10.1%, to trade at 27.15 p/therm. Further along the curve, the Q3 2019 delivery contract settled 4.2% lower at 28.37 p/therm.

 

European prompt power prices were mixed on Wednesday. The German spot electricity price lost 11.7% to close at 36.39 euros/MWh, as holiday in certain parts of Germany reduced demand. However, the French day-ahed power price surged by 4.6% to end at 34.66 euros/MWh, on prospects of lower supply.

 

Further along the curve, prices lost ground on Wednesday, tracking a bearish energy complex. The German Cal 2020 delivery contract inched 1.5% down at 46.97 euros/MWh. The French equivalent contract traded 1.2% lower at 49.98 euros/MWh.

 

European carbon prices had a downward evolution on Wednesday, staying however close to the €25 level, as the Jun-19 options expired. The carbon contract expiring in 2019 ended 0.6% lower at 24.96 euros/tonne.

Daily (16.08.2019): EU carbon prices at a new 5-week low on Thursday, due to speculative selling, Brexit fears and a weak macroeconomic context

16/08/2019 11:26:00

Intensifying recession fears spurred by downbeat economic data in Europe and China dragged the crude oil prices lower on Thursday. China’s warning about potential countermeasures in response to the latest U.S. tariff on Chinese goods also weighed on the market. Moreover, the rise in the U.S. crude inventories, extended unexpectedly into the second week, added pressure on crude prices. Under such circumstances, Brent crude dropped by 2.1% to $58.23 a barrel, while WTI futures lost 1.4% to trade at $54.47 a barrel.

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Germany's E.on plans 440-MW wind park in Texas

16/08/2019 08:41:00

A week after opening a 201-MW wind park in Texas, German utility E.on SE announced it will build an even larger one in the Lone Star State.

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Equinor Starts Up Major $7.7B Oil Field In UK North Sea

16/08/2019 08:37:00

Norwegian energy giant Equinor announced on Thursday first oil from the Mariner oil field in the UK North Sea whose start-up has been delayed twice over the last year due to technical issues.

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