Daily (21.01.2019): European carbon prices up by 5% on Brexit hopes and cold weather

21/01/2019 10:46 Daily


Oil prices rose on Friday as China presented a plan aimed at increasing purchases of U.S. goods in order to reduce the trade surplus with the U.S. to zero by 2024. The recent OPEC’s report showing weaker oil output also lent support to prices. However, the continuous trade disputes between the two major economies boosted fears over slower global economic growth and lower demand for fuel. Brent crude traded 2.5% higher at $62.70 a barrel, while WTI futures surged by 3.3% to $53.80 a barrel.

British gas prices fell on Friday due to robust UK Continental Shelf production, Norwegian flows and supply via the BBL pipeline. NBP spot dropped by 1.4% to 60.30 p/therm. Along the forward curve, the NBP contract for delivery in February 2019 was nearly 2% down at 61.79 p/therm.


European spot electricity prices were bearish on Friday due to reduced consumption. Despite colder weather, the German power price for day-ahead delivery slumped by 10.3% to 55.39 p/therm, weighed down by strong wind generation. The equivalent French contract lost 4.2% to close at 63.84 p/therm.


On the curve, electricity prices had an upward trend amid gains in carbon and other fuels markets. The German power contract for delivery in 2020 gained 0.9% to reach 51.51 EUR/MWh. The equivalent French power contract ended 0.8% higher to settle at 54.98 EUR/MWh.


European carbon prices continued the bullish evolution on Friday because of cooler weather and on hopes for positive Brexit developments. The 2020-expiry contract boosted by 5% to 25.33 euros a tonne.


Aker BP makes oil discovery in NOAKA Area

15/07/2019 08:22:00

Aker BP is about to complete the Liatårnet exploration well in licence 442 in the NOAKA area.


Daily (12.07.2019): British forward gas prices rose by over 3% on Thursday due to a bullish energy complex and higher weekly oil prices

12/07/2019 11:28:00

Daily (12.07.2019): British forward gas prices rose by over 3% on Thursday due to a bullish energy complex and higher weekly oil prices


Turkish Stream Pipeline is Almost Finished, Gazprom Says

12/07/2019 08:59:00

Last week Russian state-owned gas giant Gazprom invited bank analysts on a trip to inspect the construction work on the Turkish Stream (aka TurkStream) pipeline. They report work on the pipeline is on schedule and that it is 90% complete and should go online before the end of the year.