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 (12.09.2019): WTI crude lost almost 3% on Wednesday, on news that U.S. might ease sanctions on Iran

12/09/2019 11:31:00

Crude oil prices declined on Wednesday, as U.S. administration could ease sanctions against Iran, thereby inflate global supplies. At the same time, both OPEC and EIA slashed demand forecasts this week. Consequently, WTI crude dropped by 2.9% to $55.75 a barrel, while Brent oil decreased by 2.5% to $60.81 a barrel.

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Poland's energy minister says power prices must stay under control

12/09/2019 08:52:00

Poland’s energy minister, Krzysztof Tchorzewski, said on Wednesday that the country would have to maintain controls on electricity prices to secure economic competitiveness.

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UK Dechra's Croatian unit opens 1.5 mln euro solar power plant

12/09/2019 08:48:00

Croatian drug maker Genera, a subsidiary of UK veterinary pharmaceuticals firm Dechra, has officially opened a 1.3 million British pounds (1.5 million euro) solar power plant which will meet a third of the electricity needs of its manufacturing facility in Zagreb, Dechra said on Wednesday.

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