Daily: European spot power prices drop on robust wind power supply, tightening demand

17/12/2014 00:47 Energy Market


Brent crude futures declined for a fifth consecutive day on Tuesday to close below $60 a barrel, while WTI crude ended a volatile session slightly higher as trading of expiring options helped defend the price above $55. Brent crude for January delivery slipped $1.20, or nearly 2 percent, to settle at $59.86 a barrel. The contract has lost more than 10 percent in five days of trading. U.S. crude's front-month rose 2 cents to close at $55.93 a barrel. Its session low of $53.60 was the lowest since May 2009.

Meanwhile, prompt natural gas prices in Britain climbed on Tuesday, spurred by an undersupplied system, as reduced flows from the St. Fergus terminal in Scotland curbed supply. Prices for next-day delivery rose 0.05 pence to reach 53.55 pence per therm at 10:59 GMT. European spot power prices slipped due to rising wind power on Tuesday, with demand tightening simultaneously amid mild temperatures. German baseload for Wednesday delivery traded down 6.15 euros to touch at 40.25 euros ($50) per megawatt hour (MWh), while the equivalent French contract eased 5.65 euros to hit 45.75 euros.

Daily (30.07.2020): European CO2 prices rebounded by nearly 2% on Wednesday tracking a stronger auction in Poland.

30/07/2020 13:19:00

Crude oil prices inched higher on Wednesday, following an unexpected drop in US crude inventories. Consequently, Brent crude rose by 1.2% to $43.75 a barrel, while WTI futures increased by 0.6% to $41.27 a barrel.


Eneco, Shell win Dutch offshore wind tender with 759-MW project

30/07/2020 10:56:00

A joint venture between Dutch utility Eneco and oil and gas major Royal Dutch Shell Plc has won the tender for the third zero-subsidy offshore wind farm in the Dutch North Sea, to be built in the Hollandse Kust Noord zone.


Assembly of world’s largest nuclear fusion reactor begins in France

30/07/2020 10:49:00

A total of 35 nations are currently collaborating to build tokamak, a magnetic fusion device, which aims to demonstrate the real potential of fusion as a large scale carbon-free source of energy