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.
 

Daily (13.12.2017): European power prices hit contract peaks on Tuesday, after a blast at an Austrian gas hub

13/12/2017 11:32:00

Oil prices declined sharply on Tuesday, as traders took profits after prices increased tto a two-year peak on an unscheduled closure of the pipeline that carries the largest North Sea crude oil grade. Brent crude settled down $1.35, or 2.1 percent, at $63.34 a barrel. U.S. crude ended at $57.14 a barrel, or 1.5 percent lower.

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Notice signed to continue contracts to build four VVER-1200 units at the El Dabaa nuclear plant

12/12/2017 16:34:00

Rosatom Director General Alexey Likhachov and Egypt's Minister of Electricity and Renewable Energy Mohamed Shaker agreed to proceed with contracts for the construction of four VVER-1200 units at the El Dabaa nuclear power site.

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Baltic Pipe gas pipeline might obtain final approval in late 2018

12/12/2017 14:40:00

The final investment decision (FID) for the natural gas pipeline project between Denmark and Poland, the Baltic Pipe, might be taken no later than December 2018.

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