Daily (15.02.2019): EU carbon prices slumped by around 6% to hit again a 2-month low on Thursday

15/02/2019 11:38 Daily


Oil prices surged on Thursday, backed by OPEC-led supply cuts and expectations for a potential end to the U.S.-China trade talks. Brent oil extended a three-day winning streak, posting a 1.5% daily gain to settle at $64.57 a barrel. WTI crude rose less, by nearly 1% to $54.41 a barrel, as gains were limited by the lowest U.S. retail spending data since 2009 which raised worries over slower global economic growth.

British gas prices were bearish on Thursday due to milder weather and tepid demand amid an emerging glut fueled by stable Norwegian flows and robust LNG supply. NBP spot price dropped by 1.4% to 46.90 p/therm. Further on the curve, the NBP contract price for delivery in March traded 1.2% down at 47.07 p/therm.



Short-term forecasts for warmer-than-average temperatures curbed heating demand, weighing on European spot power prices on Thursday. Moreover, increased solar generation put more pressure on prices. The German day-ahead power contract closed 3% down at 47.62 EUR/MWh, while the equivalent French contract price tumbled by 3.2% to 48.85 EUR/MWh.


Further on the curve, electricity prices posted gains, tracking higher oil prices. The German power contract for delivery in 2020 edged 0.4% up at 45.85 EUR/MWh. The equivalent French contract inched 0.9% higher at 49.09 EUR/MWh.


European carbon prices plunged again on Thursday, hitting a new 2-month low. The 2019-expiry contract slumped by 5.5% to 19.78 EUR/tonne.

Ofgem backs 600MW Shetland grid link

20/03/2019 09:57:00

UK energy regulator Ofgem said is it minded to approve construction of a 600MW subsea interconnector from Shetland to mainland Scotland to support renewables expansion.


EU grants funds for Polish LNG terminal expansion

20/03/2019 09:02:00

The European Commission has approved €128 million to support the expansion of the Polish LNG terminal in Świnoujście.


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.