Daily (28.06.2019): NBP day-ahead plummeted by 9.5% on Thursday, due to bearish fundamentals and robust supply

28/06/2019 11:00 Daily

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Crude oil prices added ground on Thursday, on expectations that OPEC will extend an output cut agreement, while investors await a meeting between the United States and China that could ease current trade tariffs. As a result, Brent crude inched 0.1% up at $66.55 a barrel, while WTI futures settled 0.1% up at $59.43 a barrel.

British wholesale gas prices slumped on Thursday, due to bearish fundamentals and robust supply. NBP spot plummeted by 9.9% to 23.80 p/therm, while the contract for delivery in Q1 2020 settled 1.3% lower at 54.66 p/therm.

European prompt power prices extended gains on Thursday, due to a sharp drop in wind power output both in Germany and France. The price for the German day-ahead power contract climbed by 22.5% to 43.45 EUR/MWh.  The equivalent French contract settled 12.1% higher at 35.02 EUR/MWh, influenced by a projected increase in consumption.

 

Meanwhile, forward electricity prices also added small gains, tracking higher gas prices. The price for the German power contract for delivery in 2020 edged 0.2% up at 49.47 EUR/MWh, while the equivalent French contract traded 0.1% higher at 52.58 EUR/MWh.

 

EU carbon prices turned bearish on Thursday, ahead of higher auction volumes next week. The price for the 2019-expiry contract traded 1.8% lower at 26.89 EUR/tonne.

Greece eyes 44 bln euros in investment in switch to cleaner energy

29/11/2019 09:41:00

Greece hopes to generate investment worth about 44 billion euros ($49 billion) over the next decade on projects to reduce its dependence on fossil fuels, authorities said on Thursday.

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Daily (28.11.2019): EUAs jumped by almost 3% on greater climate ambitions promised by the European Commission

28/11/2019 12:38:00

Oil prices slipped on Wednesday as reports showed an unexpected increase in U.S. inventories, and record high gasoline production. Consequently, Brent crude closed the session at $64.06 a barrel, down 21 cents or 0.3% day on day. The WTI contract lost 3 cents, or 0.5%, to $58.11 per barrel.

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Yamal LNG cargo heading to Portugal

28/11/2019 09:44:00

REN-operated Sines LNG import terminal in Portugal is set to receive a liquefied natural gas cargo from the Novatek-led Yamal LNG facility.

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