Daily (22.08.2019): NBP spot surged by 5.4% on Wednesday as the outage at Culzean gas field has been extended

22/08/2019 12:09 Daily

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Oil prices diverged on Wednesday. Brent crude price rose due to a higher-than-expected draw in U.S crude stockpiles, while WTI futures dropped due to continued worries about the global economy. Brent crude added $0.27, or 0.5%, to $60.30 a barrel. Meanwhile, WTI crude lost $0.45, or 0.8%, to end at $55.68 a barrel.

British forward gas prices increased on Wednesday as an unplanned outage at the Culzean gas field offshore Britain has been extended until Thursday. Hence, NBP spot climbed by 5.4% to 27.90 p/therm, while the Winter 2019 delivery contract ended 0.2% higher at 47.57 p/therm.

 

European spot power prices fell on Tuesday due to stronger wind and solar supply, and weaker demand in the region . The price for the German day-ahead power contract plunged by 12.9% to 36.31 EUR/MWh. Meanwhile, the equivalent French contract settled 2.2% lower at 33.29 EUR/MWh.

 

Forward electricity prices also nudged down, tracking weaker carbon prices. The price for the German power contract for delivery 2020 traded 0.9% lower at 48.34 EUR/MWh, while the equivalent French contract settled 1% down at 49.89 EUR/MWh.

 

European carbon prices failed again to maintain earlier gains, settling close to the €26 level on Wednesday, due to weak trading activity. The 2019-expiry contract lost 0.9% to trade at 26.02 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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