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 (19.03.2019): NBP gas prices continued to fall by around 1% on Monday due to oversupply

19/03/2019 10:13:00

Crude oil prices inched up on Monday supported by the extension of OPEC-led supply cuts and a decline in U.S. crude inventories. Brent crude edged 0.6% higher at $67.54 a barrel, while WTI futures traded 1% higher at $59.09 a barrel.

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Azerbaijan suspends pumping oil through Baku-Novorossiysk

19/03/2019 09:18:00

According to Azerbaijan´s Trend, the country has suspended oil pumping through Baku-Novorossiysk, said Ibrahim Ahmadov, Deputy Head of the Public Relations Department at SOCAR.

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UK’s LNG Imports Jump To Highest Since 2015

19/03/2019 09:14:00

The UK is on track to import this month its highest volume of liquefied natural gas (LNG) since October 2015, as a wave of new global LNG supply and muted winter demand and low spot prices in Asia are boosting flows of the fuel to Europe.

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