Daily (26.03.2019): NBP spot down by 2.5% on Monday due to stronger Norwegian flows

26/03/2019 10:23 Daily

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Oil prices had a mixed evolution on Monday, amid concerns over a potential decline in crude supply ahead of the weekly U.S. inventories data. WTI futures traded 0.4 % down at 58.82 USD/bbl. In the meantime, the Brent crude price edged 0.3% up at 67.21 USD/bbl, supported by steady OPEC’s production cuts and an improved German business climate index which eased the prospect of a recession in Europe's biggest economy. 

Higher flows from Norway through the Langeled pipeline led to an oversupplied system, weighing on British gas prices on Monday. The NBP spot price dropped by 2.5% to 35.75 p/therm, while the contract price for delivery in Summer 2019 fell by 1.6% to 36.14 p/therm.

 

A stronger demand supported the European day-ahead power prices on Monday. The German spot power price hiked by 2.5% to 36.50 EUR/MWh, boosted by weaker wind output. The equivalent French contract price surged by 4.8% to 37.29 EUR/MWh, despite increased nuclear availability.

 

Along the forward curve, electricity prices continued to lose ground, influenced by falling gas prices. The price for the German power contract for delivery in 2020 was 0.6% down at 45.24 EUR/MWh. The equivalent French contract ended 0.5% lower at 48.68 EUR/MWh.

 

European carbon prices recouped earlier losses on Monday in a stronger trading, despite ongoing Brexit uncertainty. The contract expiring in 2021 traded 1.1% higher at 21.70 EUR/tonne.

Daily (16.07.2019): EU carbon prices extended a fresh 11-year high on Monday, boosted by a weakening allowance supply

16/07/2019 10:15:00

Crude oil prices decreased on Monday, following mixed Chinese economic data and amid anticipations of a short-term impact of the tropical storm in the Gulf of Mexico on U.S. offshore oil output. A softening in the tensions between the West and Iran added pressure on prices. Consequently, Brent crude edged down by 0.4% to $66.48 a barrel, while WTI futures lost 1.1% to settle at $59.58 a barrel.

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Aker Energy secures funding for offshore oil project in Ghana

16/07/2019 10:09:00

Africa Finance Corporation (AFC), an infrastructure solutions provider in Africa, has decided to finance Aker Energy’s deepwater project located offshore Ghana by investing in $100 million of convertible bond notes with a commitment to participate in follow on fund raising activities.

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Eolus to sell 400MW Norwegian windfarm to Aquila Capital

16/07/2019 10:07:00

Eolus Vind has signed a share purchase agreement to sell its 400MW windfarm Oyfjellet in Norway to Aquila Capital for €30m.

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