Daily (09.10.2018): UK gas prices tumbled on Monday, on warmer weather and reduced gas-for-power demand due to higher wind generation

09/10/2018 11:15 Daily

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Global oil prices edged slightly down on Monday, following Washington’s declaration that it could grant waivers to sanctions against Iran's oil exports in November, and as Saudi Arabia is likely to partly substitute shortfalls from Iran. Brent crude was 0.3% down at $83.91 a barrel, but losses were limited by a hurricane moving across the Gulf of Mexico and forecasts for a further decline in Iranian exports. 


U.S. West Texas Intermediate futures slipped by only 0.1% on Monday, to trade at $75.29 a barrel. Meanwhile, Brent crude oil futures ended 0.3% down at $83.91 a barrel. 
 

British wholesale gas prices had a downward evolution on Monday, due rising temperatures, increased Norway production and higher wind generation leading to a decline in gas-for-power demand. NBP spot price slumped by 5.4% to trade at 68.05 p/therm. Further along the curve, the November 2018 delivery contract settled 3% lower at 73.07 p/therm.

 

European spot power prices were strongly bullish on Monday amid tighter renewables generation. The German electricity price for day-ahead delivery jumped by 23.6% to settle at 71.57 EUR/MWh, as German solar power will likely remain below over 5 GW level over the next two weeks. Likewise, the French equivalent contract hiked by 27.1% to end at 75.20 EUR/MWh, on forecasts for a decline in temperatures.


Along the forward electricity curve, prices rose slightly, tracking gains in the carbon market. The French Cal’19 contract settled 0.7% higher at 60.95 euros/MWh. The German 2019-delivery contract ended at 56.34 EUR/MWh, increasing by around 0.9%. 


European carbon contracts prices slipped on Monday, following reports showing that the U.K. is most likely to leave the European Union Emissions Trading System(EU ETS) after Brexit. The contract expiring in 2019 edged 0.3% lower at 22.86 euros a tonne.
 

Daily (20.11.2018): The French power spot price jumped by almost 58% on Monday, due to lower nuclear availability and colder weather forecasts

20/11/2018 11:41:00

A reduction in U.S. crude stocks and a potential cut in OPEC production contributed to a slight increase in oil prices on Monday, after a volatile session. Concerns over the continuous trade war between US and China limited gains, keeping Brent crude almost flat at $66.73 a barrel. Meanwhile, WTI crude prices soared by 1.3% to close at $57.2 a barrel.

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NOVATEK discovers Nyakhartinskoye field

20/11/2018 09:07:00

NOVATEK announced that its wholly owned subsidiary NOVATEK-Yurkharovneftegas, upon testing of the exploration well PO-1 achieved commercial flows of natural gas from the Lower Cretaceous sediments at the Nyakhartinskiy license area with a gas condensate mixture well flow rate of more than 300 thousand m3 per day.

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Slovakia seen strengthening energy security, IEA says

20/11/2018 09:03:00

The Slovak Republic has made significant progress on several fronts of energy policy, and together with its neighbors and with the support of the European Union, has strengthened cross-border connections for natural gas, oil and electricity.

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