Daily (13.12.2018): NBP spot gained 1.6% on Wednesday due to cooler weather forecasts

13/12/2018 11:24 Daily

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Oil prices edged slightly lower on Wednesday, after Iran’s minister stated that opinions within OPEC related to output reduction differ. Nevertheless, losses were capped by the recent decline in Libya’s exports. Brent crude was almost unchanged at $60.15 a barrel. WTI crude lost 1% to end at $51.15 a barrel.

British wholesale gas contracts were bullish on Wednesday, as forecasts for lower temperatures and stronger demand for heating lent support to prices. NBP spot surged by 1.6% to 65 p/therm. Despite a slightly oversupplied system due to recent LNG arrivals and higher flows from Norway, the price for Summer 2019 delivery contract rose 1.5% to 57.27 p/therm.

 

On Wednesday, European power spot prices turned bearish. The German spot contract was 5.3% down at 66.24 EUR/MWh, due to forecasts for stronger wind generation. The electricity contract for Thursday delivery in France traded 1.7% lower at 69.83 EUR/MWh, with losses limited by higher demand on colder weather predictions.

 

Along the forward curve, prices extended gains on Wednesday, tracking carbon and gas markets. The Cal’19 delivery contract in Germany closed at 53.37 EUR/MWh and the equivalent French contract settled at 58.82 EUR/MWh, both increasing by around 1%.

 

European carbon prices hit a 2-month peak on Wednesday, in a strong session. The carbon contract expiring in 2021 closed at 23.10 EUR/ton, or around 6.1% higher.

Daily (15.01.2019): Brent crude dipped by 2.5% on weak China import-export data

15/01/2019 11:38:00

Oil prices dropped on Monday as China reported weakening import-export data, which added to persistent concerns about a global growth slowdown. Brent crude plunged by 2.5% to $58.99 a barrel, despite support from OPEC-led output cuts. WTI futures slumped by around 2% to settle at $50.51 a barrel.

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SSE completes £970m Caithness-Moray transmission project in Scotland

15/01/2019 09:31:00

The company said that its subsidiary Scottish and Southern Electricity Networks Transmission (SSEN Transmission) completed the construction, commissioning and energization of the Caithness-Moray project on time and within the allowance approved by Ofgem.

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Importers hike the price of Russian gas in Romania

15/01/2019 09:28:00

WIEE, a company that imports Russian natural gas to Romania, notified its customers about a 2% price hike effective January 1, 2019, local Economica.net reported.

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