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 (31.07.2020): WTI crude slipped below $40 a barrel on Thursday amid bearish economic data, political uncertainty in the U.S.

31/07/2020 10:44:00

Crude oil futures posted a steep decline on Thursday, with WTI crude slipping below $40 a barrel for the first time in three weeks, pressured by worries about resurgence in coronavirus cases and bearish U.S. economic data. Suggestions made by U.S. President Donald Trump that nation's November presidential election may be delayed added further pressure on oil prices. Hence, Brent crude decreased by 81 cents, or 1.9%, to settle at $42.94 a barrel. At the same time, U.S. WTI crude futures fell by $1.35, or 3.3%, to end at $39.92 a barrel.

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Gazprom Neft joins the international LNG-bunkering community

31/07/2020 09:40:00

Gazprom Neft has become the 1st oil company in Russia to join the Society for Gas as a Marine Fuel (SGMF), through its Gazpromneft Marine Bunker subsidiary Gazpromneft Shipping, operator of the Gazpromneft Marine Bunker fleet.

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German wind, solar tenders award 384 MW in July

31/07/2020 09:26:00

Projects with a combined capacity of 384 MW secured surcharges in Germany’s tenders for wind and solar power this month, the Federal Network Agency, also known as the Bundesnetzagetur (BNetzA) has announced.

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