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

11/07/2017 13:38 Daily


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.

Serbia: Gas imports via Turkish Stream can start in 2019

12/10/2017 15:31:00

Turkey's president Recep Tayyip Erdogan said that starting with 2019, Serbia could get natural gas via Turkish Stream gas pipeline.


Italy: ERG expands in France

12/10/2017 13:34:00

ERG Eolienne France inked a deal to purchase a 75% interest in two French wind farms with a total capacity of 16.25MW from the local firm Vent d'Est for €12.9 million.


French BNP Paribas promises to cease funding shale oil and gas

12/10/2017 11:56:00

The BNP Paribas Group stated its intention to end cooperation with business entities which operate in shale gas or tar sands fields.