Daily (20.11.2018): The French power spot price jumped by almost 58% on Monday, due to lower nuclear availability and colder weather forecasts

20/11/2018 11:41 Daily


A reduction in U.S. crude stocks and a potential cut in OPEC production contributed to a slight increase in oil prices on Monday, after a volatile session. Concerns over the continuous trade war between US and China limited gains, keeping Brent crude almost flat at $66.73 a barrel. Meanwhile, WTI crude prices soared by 1.3% to close at $57.2 a barrel.

On Monday, stronger LNG supplies along with robust flows from Norway put pressure on the UK gas contracts. NBP spot fell 2.2% to 65.50 p/therm. Along the forward curve, the 2019-delivery contract traded 3.6% down at 60.94 p/therm.


European spot power prices were mixed on Monday. The German electricity price for day-ahead delivery lost 3.2% to settle at 46.65 EUR/MWh, due to stronger wind power generation. However, the French equivalent contract traded 57.9% higher at 95.19 EUR/MWh, due to reduced nuclear availability following a strike and colder weather forecasts.


Further along the electricity curve, prices lost ground on Monday, tracking losses in European carbon and coal markets. The French Cal’19 contract was 4.1% down at 55.40 euros/MWh. Meanwhile, the German 2019-delivery contract ended at 50.74 EUR/MWh, posting a 3.2% decrease.


EU carbon contracts turned bearish on Monday, due to a weaker energy complex. The price for the 2021-expiry carbon contract dropped by 1.1% to settle at 20.47 euros a tonne.

Daily (12.08.2019): European spot power prices plummeted by nearly 70% on Friday due to a surge in renewables output

12/08/2019 11:16:00

Oil prices continued to climb on Friday, in response to weaker Euroilstock data, which showed a decrease in the total crude and product inventories of 16 European countries in July. Prices also drew support from OPEC supply cuts and Saudi Arabia’s commitment to bring the oil market back to balance. Hence, Brent crude rose by 2% to $58.53 a barrel. Concurrently, WTI futures surged by 3.7% to $54.50 a barrel, on lower production growth forecasts after U.S. drillers slashed the active oil rig count for a sixth straight week.


Tullow makes first oil discovery on Orinduik license offshore Guyana

12/08/2019 09:03:00

Tullow Oil has made an oil discovery at its Jethro-1 exploration well, drilled on the Orinduik license offshore Guyana.


Akuo wins 370 MW in Portugal's PV tender with a record-low bid

12/08/2019 09:00:00

French renewable power producer Akuo Energy SAS confirmed on Thursday it had been awarded 370 MW of solar photovoltaic (PV) capacity in Portugal’s recently held tender.