Daily (10.10.2018): German day-ahead power price declined by more than 13% on Tuesday due to high wind output

10/10/2018 11:00 Daily

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Global oil prices rose slightly on Tuesday, on signs of falling crude Iranian exports, before the imposition of a new round of U.S. sanctions. Furthermore, a partial shutdown in production in the Gulf of Mexico, ahead of Hurricane Michael heading towards eastern states sustained the upward trend in prices. 


WTI crude oil price, the U.S. benchmark contract, gained 67 cents on Tuesday, representing a 0.9% increase, and traded at $74.96 a barrel. Meanwhile, the international benchmark Brent crude oil futures rose by 1.3% to $85.00 a barrel. 

British wholesale gas prices were bearish on Tuesday, despite lower flows from Norway and rising oil prices. On the curve, Summer 2019 delivery contract settled 2.1% lower at 62.75 p/therm. Meanwhile, NBP spot price was 1% down at 67.4 p/therm. 


European spot power prices slipped on Tuesday due to the availability of more conventional energy sources and wind generation in Germany and France, while demand curbed in a brief early-autumn temperature spike, forecasted to end next week. The German electricity price for day-ahead delivery slumped by 13.1% to settle at 62.17 EUR/MWh, because of limited solar power generation. Likewise, the French equivalent contract lost 9.5% to 68.04 EUR/MWh, due to tight nuclear output.


Along the forward electricity curve, prices fell due to losses in carbon emissions. The German 2019-delivery contract was at 55.3EUR/MWh, or a decrease of 1.9%. Similarly, the French equivalent Cal’19 contract settled 2.1% lower at 59.7 euros/MWh.

 

The European carbon contracts posted losses on Tuesday following the downward evolution in electricity and gas markets, holding on the previous auction’s retreat from a two-week peak. The contract expiring in 2020 closed 5% down at 22.62 euros per tonne.

Daily (21.03.2019): A sharp drop in crude inventories led to a 2% rise in WTI crude on Wednesday

21/03/2019 10:14:00

Oil prices soared on Wednesday buoyed by U.S. government data that showed a sharp drop in crude inventories due to strong export and increasing refining demand. As such, Brent crude rose by 1.3% to $68.50 a barrel, while WTI futures traded 2% higher at $60.23 a barrel. Still, gains could be limited by concerns on the ongoing U.S.-China trade war and its effects on global demand.

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Audax Renovables, Trina ink PPAs for 300 MW of Spanish solar

21/03/2019 09:20:00

Spain’s Audax Renovables on Tuesday unveiled a contract to buy the output of up to 300 MWp of solar parks that Chinese giant Trina Solar Ltd will build in Spain.

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Lukoil may sign agreement on new offshore block in Kazakhstan

21/03/2019 09:23:00

Russian energy company Lukoil will be ready to sign an agreement with Kazakhstan on a new offshore project in the Caspian Sea this May, CEO of the Russian oil producer Vagit Alekperov told Tass.

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