Daily (01.03.2019): EU carbon prices topped €22 a tonne on Thursday, rising for the fifth consecutive day

01/03/2019 11:01 Daily


Brent crude price reversed trend, turning bearish on Thursday, influenced by lower factory output reported by the two Asia’s biggest economies – China and Japan. The record level of U.S. crude stockpiles also weighed on prices. On top of that, the lack of a deal after the two-day summit between U.S. president Trump and North Korean leader Kim Jong Un left the financial markets under pressure.


Brent crude edged 0.5% down at $66.03 a barrel. Nevertheless, OPEC-led supply cuts and last week’s decline in crude U.S. crude imports to a two-decade low supported WTI crude price, which inched 0.5% up at $57.22 a barrel.

British wholesale gas prices continued their upward evolution on Thursday due to an increased gas-for power demand caused by weaker wind generation. However, stronger Dutch flows and robust LNG supplies put a cap on prices. NBP spot price was 0.1% up at 45 p/therm, despite milder-than-average weather. On the curve, the Summer 2019 delivery contract traded 1.1% higher at 45.02 p/therm. 


Forecasts for weaker renewable power generation and, consequently, lower supply, bolstered the European spot power prices on Thursday. In Germany, the price for the day-ahead power contract surged by 13.9% to 45.85 EUR/MWh, while the equivalent French contract price jumped by 10.6% to 44.35 EUR/MWh.


Along the curve, electricity prices extended gains, tracking firmer coal and carbon markets. The German power contract for delivery in 2020 ended 2% higher at 48.11 EUR/MWh. The equivalent French contract price rose by 2.2% to 51.25 EUR/MWh.


EU carbon prices posted further gains for the fifth day in a row, in a bullish session which was beyond traders' expectations. The price for the 2021-expiry contract added 2% to close at 22.52 EUR/tonne.


Daily (19.03.2019): NBP gas prices continued to fall by around 1% on Monday due to oversupply

19/03/2019 10:13:00

Crude oil prices inched up on Monday supported by the extension of OPEC-led supply cuts and a decline in U.S. crude inventories. Brent crude edged 0.6% higher at $67.54 a barrel, while WTI futures traded 1% higher at $59.09 a barrel.


Azerbaijan suspends pumping oil through Baku-Novorossiysk

19/03/2019 09:18:00

According to Azerbaijan´s Trend, the country has suspended oil pumping through Baku-Novorossiysk, said Ibrahim Ahmadov, Deputy Head of the Public Relations Department at SOCAR.


UK’s LNG Imports Jump To Highest Since 2015

19/03/2019 09:14:00

The UK is on track to import this month its highest volume of liquefied natural gas (LNG) since October 2015, as a wave of new global LNG supply and muted winter demand and low spot prices in Asia are boosting flows of the fuel to Europe.