Daily (22.01.2019): French spot power prices surged by 13.2% on Monday on reduced nuclear availability due to strike

22/01/2019 11:11 Daily


Oil prices inched up on Monday amid investors’ optimism driven up by surging stock markets and signs of weaker crude production due to OPEC-led output cuts. A record crude oil refinery throughput in 2018 reported by China’s National Bureau of Statistics supported the prices. However, a slowing economy and tensions between US and China limited gains. Brent crude edged 0.1% higher at $62.74 a barrel, while WTI futures rose by 0.7% to $54.17 a barrel.

British gas prices were down on Monday as strong flows from Norway and Belgium left the system oversupplied. Moreover, increased wind production weighed on demand from power generators, putting more pressure on prices. NBP spot decreased by 3.2% to 58.40 p/therm. Along the curve, the NBP for delivery in Summer 2019 dipped by nearly 3% to 53.17 p/therm.


Monday saw a mixed evolution in European electricity prices. Cold weather boosted demand, and, consequently, the German spot power contract traded 13.7% higher at 63 EUR/MWh, despite higher wind output. The equivalent French contract soared by 13.2% to 72.32 EUR/MWh, on reduced nuclear availability after a 24-hour strike at EDF’s reactors.


Along the electricity forward curve, prices were bearish, tracking weaker prices in carbon and other related fuels markets. The German year-ahead contract went 2.2% down to 50.39 EUR/MWh, while the equivalent French contract traded 1.9% lower at 53.93 EUR/MWh.


European carbon prices reversed trend to fall on Monday, on prospects for rising temperatures. The 2021-expiry contract lost 1.6% to settle at 25.54 euros a tonne.

Daily (22.05.2019): NBP spot ended down by nearly 3% on Tuesday due to higher Norwegian flows

22/05/2019 11:33:00

The outlook of a tighter supply fuelled by the growing tensions in the Middle East and OPEC’s constant commitment to cut output supported oil prices on Tuesday. Meanwhile, gains were capped by the lengthy U.S.-China trade dispute and its bearish impact on the global economic growth. Brent crude price edged higher by 0.3% to 72.18 USD/bbl, while WTI futures were only 0.1% up at 63.13 USD/bbl.


Serbia aims to complete Bulgaria-Hungary gas link by Dec 18 - energy min

22/05/2019 08:48:00

Serbia plans to complete the construction of a natural gas pipeline from the border with Bulgaria to the border with Hungary by December 18, energy minister Aleksandar Antic said on Tuesday.


Zennor completes North Sea wells

22/05/2019 08:36:00

Independent UK oil and gas firm Zennor Petroleum announced Tuesday the completion of drilling and testing operations at the Finlaggan field in the North Sea, Kallanish Energy reports.