Daily (26.04.2019): French spot power price spiked by 40% on Thursday due to falling wind output

26/04/2019 10:34 Daily

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Oil prices declined on Thursday, as global oil capacity looks sufficient to compensate the supply gap after the soon-ending sanction waivers on Iranian oil imports. WTI futures dropped by 1% to $65.21 a barrel, amid stronger U.S. crude production and abundant stocks. Brent crude slipped by merely 0.3% to $74.35 a barrel, with losses limited by halted oil imports via Russian pipeline due to quality concerns.

UK gas prices were bullish on Thursday, as short-term forecasts for cooler weather lifted demand. The NBP spot price surged by 3.5% to 32.20 p/therm. On the curve, the contract for delivery in August 2019 jumped by 1.7% to 36.96 p/therm.

 

The European spot power prices had an upward evolution on Thursday, boosted by an expected decline in renewables power generation. Rising demand due to lower temperatures lent more support to prices. The price for the German spot power contract hiked by 10.8% to 43.54 EUR/MWh. Meanwhile, the equivalent French contract price soared by 39.5% to 39.97 EUR/MWh.

Along the curve, electricity prices also rose on Thursday, following higher spot prices and a firmer gas market. The German power contract for delivery in 2020 traded 0.3% up at 50.46 EUR/MWh. The same increase was noticed in the equivalent French contract, which closed at 53.47 EUR/MWh.

 

EU carbon prices continued their bearish trend amid technical buying on Thursday. The 2021-expiry contract lost 0.4% to end at 28.02 EUR/tonne.
 

Daily (14.06.2019): Oil prices hiked by 2.2% on Thursday, due to conflict in the Gulf of Oman

14/06/2019 09:34:00

Crude oil prices rose on Thursday, after two oil tankers were attacked in the Gulf of Oman stoking fears of a new conflict between Iran and the United States, the latter blaming Tehran for the incident. As a result, Brent crude increased by 2.2% to $61.31 a barrel, while WTI futures closed 2.2% higher at $52.28 a barrel.

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France awards 516 MW of onshore wind in latest tender round

14/06/2019 09:07:00

The French government has selected 516 MW of winning projects in its third onshore wind tender, it announced on Wednesday.

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Pair of Qatari LNG cargoes heading for Zeebrugge

14/06/2019 09:04:00

The Fluxys-operated Zeebrugge liquefied natural gas terminal in Belgium booked a pair of cargoes of LNG from Qatar.

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