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.

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Global gas demand expected to ascend by 1.6% annually

14/07/2017 12:08:00

As reported by the International Energy Agency (IEA), global gas is predicted to rise 1.6% every year, for the next five years, with consumption rising to almost 4,000 billion cubic meters (bcm) by 2022.


Daily (14.07.2017): Oil prices rose 1.4% on Thursday as world oil demand is picking up

14/07/2017 11:26:00

Oil prices rose on Thursday on evidence that world oil demand is picking up, notably in the United States and China, the world's two biggest oil consumers. Growing demand is helping to drain a global fuel glut but the rebalancing of the oil market is taking longer than anticipated. Brent crude jumped by 1.42% settling at $48.42 a barrel, while the WTI price increased by 1.3% to $46.08 a barrel.