Daily (11.07.2017): British NBP spot price declined by 2.8% on Monday

11/07/2017 13:38 Daily

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Oil rose modestly on Monday, lifted by a healthy demand expected in the coming weeks. However, increased drilling activity in the US and uncertainty over Libyan and Nigerian production cuts clouded the future supply outlook. Brent crude rose by 0.36% to end at $46.88 a barrel, while the WTI price increased by 0.38% to $44.40 a barrel.

British wholesale gas prices declined on Monday as the system was slightly oversupplied. Also, healthy supply from Norway through the Langeled pipeline and mild temperatures lowered the prices. NBP spot contract fell by around 2% to 35.10 p/therm. Further along the curve, August gas contract decreased by 2.82% to 35.15 p/therm Winter 2017 contract tumbled by almost 1% at 44.45 p/therm.

 

European day-ahead electricity prices rose on Monday on a rally in coal prices, sparked by Chinese buying and low output in Australia. Meanwhile, carbon emission gains also provided support for electricity prices. German spot power contract closed 6.34% higher at 36.58 euros/MWh, while French electricity price increased by 7.21% to end at 36.88 euros/MWh. Further along the curve, German Cal 2018 benchmark price edged down by 0.35% to settle at 31.73 euros/MWh. Meanwhile, the French power contract for delivery in 2018 was almost steady with some marginal losses at 37.48 euros/MWh.

 

EU carbon prices have extended Friday’s 4-month high on Monday supported by solid auction and briefly rise by around 1.1% above €5.50 level. The EUA Cal 2018 closed at 5.45 euros/ton, while the EUA 2019 settled at 5.53 euros/ton.
 

Nova Innovation receives funds for tidal energy in North Wales

11/08/2017 11:36:00

UK tidal energy generator Nova Innovation has been awarded £265,000 for the development of a tidal project at Bardsey Sound in north Wales.

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Daily (11.08.2017): Oil prices fell by around 2% on Thursday on U.S. and North Korea tensions

11/08/2017 11:18:00

Oil prices fell on Thursday, pushed lower by a nervous market starting to doubt recent falls in inventories. Libyan production hit in July its highest level for the year. Investors were also concerned of the tensions between the U.S. and North Korea. Brent fell by 1.52% to close at $51.90 a barrel, while WTI price decreased by almost 2% to end at $48.59 a barrel.

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Commissioning of the unit 4 of Korean Shin Kori nuclear plant delayed

11/08/2017 10:02:00

The finalization of the unit 4 of the Shin Kori nuclear power plant has been postponed by ten months due to design enhancement and additional seismic assessment work. The operation of the plant is now expected to start in 2018.

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