Daily (12.12.2017): UK spot gas price rose 11% on colder weather and higher demand

12/12/2017 11:27 Daily

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Oil prices increased on Monday, overcoming declines early in the session, after a North Sea pipeline was closed for repairs and investors concentrated on commodities following an explosion in New York. Brent crude futures ended $1.29, or about 2 percent, higher at $64.69 a barrel. WTI crude price settled 1.1% up at $57.99 a barrel.

Gas prices hiked on Monday because of colder weather and rising demand. Continuing outages affecting production from storage site Rough, Centrica's Morecambe gas field, and reduced terminal flows through Teesside PX and Bacton Shell, added to the tight system. NBP day-ahead gas price surged by 6.45 pence, or 11.1%, to settle at 64.75 p/therm. Along the forward curve, Summer 2018 delivery contract soared by 3% to 44.73 p/therm. 

 

French day-ahead power prices hiked on Monday in the European wholesale market on lower temperatures, while prompt prices in Germany slumped due to increasing output from wind turbines. The French baseload contract for Tuesday delivery jumped by 38 percent to 77.86 euros/MWh. German day-ahead baseload electricity stood 17.6 percent down from the Monday price at 34.35 euros/MWh.


Prices along the power forwards curve edged slightly higher. Both French and German electricity contracts for delivery in 2018 were 10 cents up from the close on Friday at 43.4 and 37.26 euros/MWh respectively.


EU carbon prices edged higher on Monday after extending their five-week low on a weak auction, though purchasers prevented the benchmark contract from decreasing below a key support level above €7. The carbon contract expiring in 2018 closed 0.8% up at 7.23 euros a tonne.

Daily (11.10.2018): WTI crude dropped by 2.4% on Wednesday as forecasts for lower economic growth curbed the demand for oil

11/10/2018 11:01:00

Oil crude prices slipped on Wednesday as the International Monetary Fund (IMF) mitigated its global growth projections in its latest World Economic Outlook report, reducing the demand for oil. However, the losses were capped as Hurricane Michael led to the shutdown of roughly 40% of Gulf of Mexico’s crude oil production. Brent crude closed at $83.09 a barrel, representing a 2.3% loss. WTI crude tumbled by 2.4% to settle at $73.17 a barrel.

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World Bank will not support new coal power plant in Kosovo

11/10/2018 09:03:00

President of the World Bank Group Jim Yong Kim confirmed that the international organization will not support a coal power plant in Kosovo.

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Novatek Announces Major Offshore Gas Find in Russian Arctic

11/10/2018 08:58:00

Russian gas and LNG firm Novatek announced Wednesday that it has found a major new gas field in the Gulf of Ob, just off the Yamal Peninsula in the Russian Arctic.

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