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

19/03/2019 10:13 Daily

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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.

British gas prices continued their bearish evolution on Monday, as robust flows and six new LNG tankers to arrive this week are expected to leave the system oversupplied. NBP spot fell by 0.5% to 38.10 p/therm, while the contract for delivery in Q3 2019 lost 0.7% closing at 38.91 p/therm.

 

Colder weather and waning supply boosted European spot power prices on Monday. The price for the German day-ahead power contract soared by 163.3% to 45.34 EUR/MWh, while the equivalent French contract traded 155.3% higher at 45.31 EUR/MWh, on reduced nuclear power availability.

 

Along the curve, electricity prices lost ground, tracking lower gas, coal and carbon prices. The price for the German power contract for delivery in 2020 dropped by 1.8% to 45.79 EUR/MWh, while the equivalent French contract ended 1.4% down at 48.92 EUR/MWh.

 

EU carbon prices fell to the lowest level this month, due to a bearish energy complex. The price for the 2021-expiry contract decreased by 2.9% to 22.66 EUR/tonne.

Daily (22.04.2019): The energy complex was calm on Friday due to Easter holidays

22/04/2019 10:04:00

The overall trade on energy markets was muted by the long weekend occasioned by Easter holidays. Oil, gas and carbon prices remained untraded, taking a pause before the resumption of the trading activity this week.

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Repsol Sinopec eyes extra 10 million barrels from North Sea assets

22/04/2019 09:59:00

Repsol Sinopec Resources UK has started working on projects across a number of its assets in the UK North Sea that should realize in the region of an additional 10 million barrels of oil equivalent (boe), beginning later this year.

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France’s Total to invest in Russian LNG terminals in Arctic & Far East

22/04/2019 09:53:00

The CEO of energy major Total has announced plans to buy a share in projects aimed at constructing terminals for transferring liquefied natural gas (LNG), led by Russia’s biggest independent gas producer Novatek.

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