Daily (23.03.2017): British prompt gas prices fall on oversupply from Norway

23/03/2017 11:00 Daily



Oil prices recuperated much of their losses after decreasing to almost four-month lows on Wednesday, as data indicated that U.S. crude inventories rose faster than anticipated.


U.S. West Texas Intermediate (WTI) crude futures for May settled 20 cents lower at $48.04 per barrel, after having attained a session low of $47.01.Global benchmark Brent crude futures for May delivery dropped by 32 cents settling at $50.64 a barrel. The contract fell as low as $49.71.


British wholesale gas prices fell on Wednesday, as imports from Norway increased. The weather is expected to be colder in the next few days, which could increase demand for gas for heating.UK day-ahead gas slippedby 0.20 pence ending the session at40.20 p/therm. NBP gas for delivery in April fell by 0.11 pence to 40.27 p/therm.


European forward electricity prices for year-ahead delivery reached their lowest level since early December on Wednesday, following the decline in other energy prices led by oil.


The baseload German spot power price for Thursday delivery dropped by 3.75 percent, or 1.33 euros, to 34.17 euros/MWh compared with the price paid for Wednesday delivery. The equivalent French contract fell 1.86%, or 0.70 euros to 37.25 euros/MWh.


The benchmark German baseload for delivery in 2018 slipped by around 1% to 28.39 euros/MWh, while the equivalent French contract decreased by 0.73 percent to 33.87 euros/MWh.


EU carbon prices prolonged the preceding session’s one-month low on Wednesday since prices continued to edge in the €5 mark. EUA emissions in December 2017 contract were traded 3 cents higher to settle at 5.01 EUR/tonne.



Want to get access to personalized energy market data every day? Learn more about our Energy Cockpit solution here.


Daily (02.04.2019): British gas prices near 2009 lows on Wednesday, due to weak demand

02/04/2020 11:30:00

Crude oil prices were bearish on Wednesday, weighed by a steep rise in U.S. crude inventories last week, the biggest weekly rise since 2016, while gasoline demand continued to decline. Consequently, Brent crude for June delivery traded 6.1% lower at $24.74 a barrel. Similarly, WTI futures slid by 0.8% to $20.30 a barrel.


Germany 'closes in' on 2020 renewables goal

02/04/2020 09:49:00

Germany is likely to achieve its binding EU renewable target for 2020, according to the latest figures from the country's federal environment agency.


CO2 may plumb fresh lows this month on virus impact

02/04/2020 09:45:00

The coronavirus pandemic is likely to maintain pressure on carbon prices in April, potentially sending them to fresh two-year lows as the world locks down communities to reverse the pace of infections.