Daily (13.06.2017): British prompt gas prices dropped significantly on Monday, by almost 6%

13/06/2017 11:25 Daily


Oil slightly increased on Monday, mainly due to speculative traders, forecasts of lower U.S. inventories and news that Saudi Arabia will lower volumes of crude to some Asian buyers in July while deepening cuts to the United States. 

Brent crude for August delivery added almost 0.3% to settle at $48.29 a barrel, while the West Texas Intermediate for July delivery increased by 0.55% to settle at $46.08 a barrel on the New York Mercantile Exchange.


The week started bearish on the British wholesale gas market, with British prompt gas prices continuing to decline on Monday as high imports from Norway, combined with weak gas-for-power demand pushed prices lower. The NBP spot contract significantly dropped by 5.9% to end at 34.40 p/therm. The July 2017 gas contract fell by 2% to close at 35.99 p/therm.


European spot electricity prices rose on forecasts of higher demand and less wind power on Monday, as France was expecting an increase in temperatures causing more air conditioning usage. German spot power contract rose by 5.5% at 32.75 euros/MWh, while French spot power contract jumped by 16.73% to settle at 36.22 euros/MWh.


German and French forward electricity prices fell by 1.1%, to end at 30.67 euros/MWh and 36.05 euros/MWh accordingly.


European carbon prices dropped below €5 on Monday in a volatile session. The EUA Cal2018 contract was 2.36% down, settling at 4.97 euros/ton.

UK budget tax modifications can save millions in oil and gas

23/11/2017 13:39:00

The trade association for the oil and gas industry has declared that the Autumn Budget could save millions of pounds by presenting a tax change to postpone the decommissioning of older energy fields.


Daily (23.11.2017): Oil prices hit a two-year peak on Wednesday

23/11/2017 11:03:00

Oil prices hit a two-year peak on Wednesday after the closure of one of the largest crude pipelines from Canada reduced supply to the United States.


French and Swiss nuclear sites affected by quality assurance problems

22/11/2017 17:02:00

France and Switzerland have been affected by quality assessment issues. EDF Group stated that Areva had found out that quality control deviations occur on specific rods, which meant the provider was incapable to demonstrate that quality control to prove that the leak tightness of those rods had been properly carried out.