Daily (20.09.2019): NBP spot fell by nearly 3% on Thursday, as low wind and reduced French power output boosted gas-for-power demand

20/09/2019 11:29 Daily


Crude oil prices turned bullish on Thursday, as traders started to doubt whether Saudi Arabia will be able to fulfill its pledge to restore lost production by September 30 and its capacity by November 30 after last weekend’s attack. Geopolitical risks were the main driver in the price rise, as the market await further reactions from Saudi Arabia and the U.S., which strive at building a peaceful coalition rather than engaging in a military action. A weaker U.S. dollar also supported prices. Brent crude rose by 1.3% to 64.40 USD/bbl, while WTI futures were rather steady at 58.13 USD/bbl. 

British gas prices varied on Thursday. NBP spot fell by 2.8% to 24.30 p/therm, amid lower gas-for-power demand caused by strong wind generation. Meanwhile, the July 2020 delivery contract edged 0.4% higher at 42.98 p/therm, stimulated by a decline in French power output due to a union strike at EDF. 


Sluggish consumption ahead of the weekend weighed on the European prompt electricity prices on Thursday. The price for the French spot contract slumped by 6% to 40.28 EUR/MWh, influenced by increased renewable power output. In the meantime, the German equivalent power contract settled 2.5% lower at 42.70 EUR/MWh. 


Forward electricity prices gained ground on Thursday, tracking bullish carbon and coal markets, and the upward movements in several gas futures. The German power contract for delivery in 2020 traded 1% higher at 50.12 EUR/MWh, while the equivalent French contract advanced by 0.8% to 52.33 EUR/MWh.  


The EU carbon prices reversed trend to climb on Thursday, boosted by renewed supply concerns and growing geopolitical tensions. The price for the 2021-expiry contract jumped by 2% to 26.58 EUR/tonne. 

US Shale Output to Overtake Oil and Gas Production From Russia by 2025 - IEA

13/11/2019 09:02:00

The total US shale output will overtake production of oil and gas in Russia by 2025, according to the Stated Policies Scenario outlined in World Energy Outlook report released by the International Energy Agency (IEA) on Wednesday.


Daily (12.11.2019): French spot power price surged by over 16% on forecasts for higher demand amid colder weather

12/11/2019 11:17:00

Oil prices dropped on Monday due to a lack of direction in the U.S- China trade negotiations. Hence, Brent crude closed 0.5% lower at $62.18 a barrel, while WTI futures fell by 0.7% to $56.86 a barrel.


Mongolia exports 32.3 million tons of coal as of first ten months

12/11/2019 10:35:00

Mongolia planned to export 42 million tons of coal in 2019. According to statistics of Mongolian General Customs Administration, Mongolia has exported 32.3 million tons of coal as of first ten months of 2019 which means there is a necessity to export 9.7 tons of coal in order to reach the goal. But the People’s Republic of China appears to maintain its coal import at 200-300 million tons so that the amount of coal export has a tendency to slow down in the last months of 2019 according to Bloomberg.