Daily (05.10.2018): NBP gas contract for delivery in 2019 traded 1.3% higher on Thursday despite lower consumption and a well-supplied system

05/10/2018 10:46 Daily


Oil crude prices lost momentum on Thursday, due to forecasts for an increase in production by Saudi Arabia and Russia. However, the price losses were tempered by the forthcoming U.S. sanctions on Iranian exports.

WTI crude closed 2.7% down at $74.33 a barrel, while Brent crude oil futures dropped by 2% to trade at $84.58 a barrel. 

British wholesale gas prices were mostly bullish on Thursday, despite a well-supplied system and a low demand because of better-than-expected weather forecasts. NBP spot price rose by 0.9% to 71.10 p/therm. Further along the curve, the November 2018 delivery contract settled 0.7% higher at 74.47 p/therm.

European spot electricity prices shed on Thursday, following an anticipated drop in electricity demand and a supply improvement in both, Germany and France.

The German power price for day-ahead delivery traded 7.4% down to settle at 60.30 EUR/MWh, due to warmer weather, and thus, a demand slip. Meanwhile, the equivalent contract in France lost 5.8% to end at 67.39 EUR/MWh, because of a dip in consumption and higher nuclear power availability.

Along the forward electricity curve, contracts slightly increased on Thursday, driven by higher gas and carbon emissions prices. The German 2019-delivery contract rose by 0.8% to settle at 55.35 EUR/MWh. Similarly, the French equivalent contract surged by 0.9% to close at 60.35 EUR/MWh.


European carbon contracts soared above 22 euros on Thursday, in another tempered session. The price for the contract expiring in 2019 was 0.8 % higher at 22.09 euros a tonne.

Ofgem backs 600MW Shetland grid link

20/03/2019 09:57:00

UK energy regulator Ofgem said is it minded to approve construction of a 600MW subsea interconnector from Shetland to mainland Scotland to support renewables expansion.


EU grants funds for Polish LNG terminal expansion

20/03/2019 09:02:00

The European Commission has approved €128 million to support the expansion of the Polish LNG terminal in Świnoujście.


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.