Daily (21.09.2017): British day-ahead gas price fell 3.6% on abundant flows from Norway

21/09/2017 11:18 Daily

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Oil prices jumped 2 percent on Wednesday despite a rise in U.S. crude inventories, with the market heading for its biggest third-quarter gain in 13 years after the Iraqi oil minister declared OPEC and its partners were envisaging to deepen output reductions. 

Brent crude futures edged $1.15, or 2.1 percent, higher to hit $56.29 a barrel, while U.S. WTI crude futures gained $1.21, or 2.5 percent, to settle at $50.69.

 

UK wholesale gas prices dropped on Wednesday, because of abundant flows via Britain's most important import pipeline, with Norway leaving the British gas market balanced. NBP day-ahead gas price closed 1.70 pence, or 3.6%, down at 45.35 p/therm. Winter 2017 delivery contract was 0.9% to 49.15 p/therm.

 

European prompt electricity prices were mixed on Wednesday. German electricity rose slightly as wind power generation was likely to decline again, while prices in France fell on expectations that warmer weather would reduce demand. German Thursday delivery baseload was up 0.3 percent at 39.26 euros per MWh, while the equivalent French contract was 6 percent lower at 39.26 euros/MWh. The news of a reduction in nuclear power supply in the near term and a strike call for workers at utility EDF’s plants led to losses on the French prompt market.


Power curve contracts were 0.7 percent lower both in Germany and France, moving in tandem with lower prices for fuels and carbon. Germany’s Cal ‘18 was at 35.99 euros and the less liquid French Cal ‘18 at 42.38 euros/MWh.


European carbon contracts edged down on Wednesday amid lower electricity and flat coal prices, decreasing after the Tuesday’s heavily-traded 4.5% gain, still maintaining certain volatility. December 2020 expiry EU carbon permits declined by 1.6 percent to 7.10 euros a tonne, after increasing on Tuesday.

Daily (03.12.2019): NBP gas forward prices strongly bearish on Monday due to robust supplies from LNG terminals and from Norway

03/12/2019 11:26:00

Brent crude declined on Monday on concerns about global oil oversupply and limited progress toward resolving the U.S.-China trade war that has clouded the outlook for oil demand. Brent lost 2.4% to settle at $60.92 a barrel.

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Ireland to open 1st renewables auction in early 2020

03/12/2019 09:36:00

The Irish government on Monday gave the green light to the country’s first auction under its new Renewable Electricity Support Scheme (RESS) that is seen to pave the way towards a 70% renewables share by 2030.

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Novatek $4.8 bln Yamal LNG fleet complete. Yakov Gakkel expected to load next week

03/12/2019 09:33:00

Russia’s largest independent natural gas producer and LNG exporting player, Novatek has completed the $4.8 billion, 15-vessel strong fleet of Arc7 liquefied natural gas carriers set to serve its giant Yamal LNG project in the Arctic.

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