Daily (28.08.2018): Europe power prices on the curve hit new peaks on Monday, following bullish carbon markets

28/08/2018 14:01 Daily


Worries that ongoing trade tensions between China and U.S. would lead to a demand reduction, boosted oil prices on Monday. Nevertheless, a rise in OPEC's and Russian output put a cap on prices. Brent crude oil edged 0.5% higher to settle at $76.21 a barrel. WTI crude closed at $68.87 a barrel, or 0.2% higher.

UK gas markets were closed on Monday, due to a public holiday. NBP spot price was at 67.00 p/therm, while the Q4 2018 gas contract remained at 70.89 p/therm. 


European spot power prices jumped on Monday, on predictions of lower wind generation in Germany and reduced nuclear supply in France. Accordingly, the German day-ahead contract price hiked by 22.2% to end at 66.07 euros/MWh. The French equivalent contract added 15.2% to close at 68.24 euros/MWh.


Meanwhile, electricity prices on the forward curve hit new peaks on Monday, tracking the bullish carbon market. The German Cal’ 19 baseload electricity price soared by 2.5% to close at 50.47 euros/MWh. The French equivalent contract for 2019 delivery traded 2.3% higher at 55.33 euros/MWh.


Carbon prices gained strong momentum in a limited session on Monday, posting a 15% increase for the week. The carbon contract expiring in 2021 was at 22.82 euros a tonne, or around 3% higher.

Daily (08.08.2019): Oil prices plummeted by over 4.5% on Wednesday, due to a buildup in U.S crudes stockpiles and China-U.S. trade war

08/08/2019 11:21:00

Oil prices decreased on Wednesday reaching a seven-month low, following a surprise accumulation in U.S. crude stockpiles. Moreover, worries that oil demand will shrink due to China – U.S. escalating trade war also put pressure on prices. Hence, Brent crude fell by 4.6% to $56.23 a barrel, while WTI futures traded 4.7% lower at $51.09 a barrel


Novatek seals Arctic LNG 2 deal with partners and subcontractor

08/08/2019 08:45:00

Russia’s largest private natural gas extractor and liquefied natural gas (LNG) producer Novatek has entrusted a new subcontractor with building gas liquefaction facilities for Arctic LNG 2, its second LNG project to be developed in the Arctic.


Energy bills to fall by £75 as Ofgem lowers price cap

08/08/2019 08:36:00

Energy bills are set to fall by around £75 for millions of households in Britain this winter after Ofgem announced a reduction in the price cap.