Daily (30.10.2019): NBP spot dipped by 4.7% on Tuesday due to low demand and firm supplies

30/10/2019 11:24 Daily


Crude oil prices diverged slightly on Tuesday. Brent crude was almost flat at $61.59 a barrel amid signs that U.S.-China trade differences might temper in November and on expectations for a draw in the U.S. refined product inventories. In the meantime, predictions of a rise in the U.S. crude stocks and Russia’s reserved outlook for a potential crude output extension by OPEC+ pushed WTI futures 0.5% lower at $55.54 a barrel. 

Weaker gas-for-power demand and steady LNG supplies dragged down British wholesale gas prices on Tuesday. The high level of storages also weighed on prices. As a result, NBP spot price sank further by 4.7% to 25.10 p/therm. The January 2020 delivery contract lost 1.1% to close at 45.06 p/therm. 


European spot power prices were mixed on Tuesday. The German spot power price slid by 0.2% to 48.02 euros/MWh, despite forecasts for weaker wind generation and firmer demand. Meanwhile, the French day-ahead power price rose by 2.2% to 49.66 euros/MWh due to stronger consumption.


On the curve, electricity prices moved upwards on Tuesday, tracking the bullish trend in the carbon market. The German power contract for delivery in 2020 was 0.6% higher at 46.94 euros/MWh. The same increase was noticed in the equivalent French power contract, which traded at 49.75 euros/MWh. 


EU carbon prices continued to climb on Tuesday, amid receding fears over a no-deal Brexit as traders anticipated that the UK Parliament would back a general election on December 12. The 2020-expiry contract added 1.3% to end at 25.61 euros/tonne.

Growth in global carbon emissions slowed in 2019

04/12/2019 08:56:00

A surprise drop in coal use in the United States and Europe has helped to slow the growth of global carbon dioxide emissions this year, with softening demand in China and India also contributing, according to a study published on Wednesday.


Daily (03.12.2019): NBP gas forward prices strongly bearish on Monday due to robust supplies from LNG terminals and from Norway

03/12/2019 11:26:00

Brent crude declined on Monday on concerns about global oil oversupply and limited progress toward resolving the U.S.-China trade war that has clouded the outlook for oil demand. Brent lost 2.4% to settle at $60.92 a barrel.


Ireland to open 1st renewables auction in early 2020

03/12/2019 09:36:00

The Irish government on Monday gave the green light to the country’s first auction under its new Renewable Electricity Support Scheme (RESS) that is seen to pave the way towards a 70% renewables share by 2030.