Daily (21.10.2019): NBP spot jumped by 5.8% on Friday, due to unscheduled outages at the Forties oil and gas pipeline

21/10/2019 11:28 Daily

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Oil prices edged lower on Friday following data indicating that the Chinese economy registered the slowest growth in nearly three decades. Ongoing trade negotiations between China and U.S. and the rising amount in crude stockpiles also put pressure on prices. Hence, Brent crude dropped by 0.8% to end at $59.42 a barrel, while WTI futures lost 0.3% to settle at $53.78 a barrel.

A series of unscheduled outages, including a shutdown of the Forties oil and gas pipeline drove British day-ahead gas prices higher on Friday. NBP spot hiked by 5.8% to 27.50 p/therm. Meanwhile, lower oil prices weighed on forward gas prices. Consequently, the Q2 2019 delivery contract settled 1.3% lower at 42.47 p/therm.

 

A recovery in thermal power availability and lower demand due to milder weather put pressure on European day-ahead electricity prices on Friday. The German spot power price plunged by 15.7% to 33.09 EUR/MWh. The equivalent French contract fell by 6.4% to 33.09 EUR/MWh, amid balanced nuclear power supply.

 

Forward electricity prices lost ground on Friday, influenced by bearish carbon and gas markets. The price for the 2020-delivery German power contract inched down by 0.3% to 48.56 EUR/MWh, while the equivalent French contract was almost flat at 51.34 EUR/MWh.

 

European carbon prices nudged down on Monday, amidst a weak auction result and ahead of the British vote on the Brexit deal. The 2019-expiry contract closed 0.7% lower at 25.88 euros/tonne.

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.

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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.

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NTT to spend 600 billion yen on own grids for power business

12/11/2019 10:25:00

Nippon Telegraph and Telephone has decided to build its own power grids. Japan's largest telecom company plans, beginning in the year ending March 2021, to sell electricity from storage batteries at its roughly 7,300 office buildings around the country, mainly to hospitals and factories.

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