Daily (24.06.2019): NBP spot surged by 2.2% on Friday tracking the rise in oil prices

24/06/2019 11:10 Daily


Oil prices surged on Friday on fears that the United States could attack Iran, which might lead to disrupted flows from the Middle East. Brent crude gained $0.75, or 1.2%, to close at $65.20 a barrel. WTI futures added $0.38, or 0.6%, to close at $57.43 a barrel.

British wholesale gas prices had an upward trend on Friday, tracking higher oil prices. Despite expectations for more LNG cargoes from Qatar, the NBP day-ahead gas price rose by 0.40 pence, or 2.2%, to settle at 27.60 pence/therm. At the same time, Winter 2019 delivery contract settled 2.3% higher at 51.36 pence/therm.

European prompt power prices fell on Friday on predictions for higher renewable electricity output. German day-ahead power price tumbled by 18.3% to 31.63 euros/MWh. The French spot power price sank by 28.3% to 24.31 euros/MWh.

Further along the curve, electricity prices soared on Friday amid a bullish energy complex. The German power contract for delivery in 2020 settled 1.3% higher at 47.52 euros/MWh. The French equivalent  contract ended 1% up at 50.49 euros/MWh.

European carbon prices were bullish on Friday due to a stronger gas market and a consolidated energy complex. A stronger euro which hit the highest level in three weeks also supported prices. The 2020- expiry contract ended 0.8% higher at 25.61 euros/tonne.

Lundin makes small oil discovery at Goddo prospect in North Sea

19/08/2019 09:42:00

The discovery was made at the wildcat well 16/5-8 S, in the production license 815, about 14 kilometers south of the Edvard Grieg field in the central part of the Norwegian sector of the North Sea.


Croatia's net electricity output falls 2.4% year-on-year in June

19/08/2019 09:39:00

Croatia's net electricity production decreased to 902 GWh in June from 924 GWh in the same month of 2018, the country's statistical office said on Friday.


Yamal LNG hits 20 mt milestone

19/08/2019 09:35:00

Russia’s largest independent natural gas producer and LNG operator said its Yamal LNG project hit a new milestone.