Daily (20.03.2017): European year-ahead power prices diverge on lower carbon, stronger coal prices

20/03/2017 09:01 Daily


Crude oil prices were mainly flat on Friday, posting minor gains for the week, but speculators considerably cut long positions on worries that an OPEC production reduction was failing to slash a global supply glut.

Brent crude rose by 2 cents to settle at $51.76 a barrel, while U.S. WTI crude jumped 3 cents to end at $48.78 a barrel. Both benchmarks gained 0.8% for the week.


European prompt power prices for Monday delivery declined considerably on Friday amid an anticipated rise in output from wind, coal and lignite power generation. German prompt power for Monday delivery fell 31% to 19.67 euros/MWh, compared with the price paid for Friday delivery. The French equivalent contract stood at 25.66 euros/MWh, down 28% day-on-day.


Along the year-ahead power curve, prices diverged on Friday tracking lower carbon and stronger coal prices. The benchmark German Cal '18 baseload contract fell 0.70% to 29.39 euros/MWh. The equivalent French contract advanced 0.29% to 34.62 euros/MWh. Dec '18 EU carbon emissions allowances lost 0.19% to 5.18euros a tonne, while coal for 2018 rose 0.09% to $64.56 a tonne.


British wholesale gas prices shed on Friday amid an oversupplied system and a milder weather. The British day-ahead gas price slipped 0.86% at 40.55 pence per therm. Curve prices found support from a weaker sterling and higher oil prices. The NBP gas contract for year-ahead delivery increased by 0.40% to trade at 43.63 pence/therm.


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UK - first coal-power free day in over a century, according to National Grid

24/04/2017 16:29:00

Britain is set for its first day without electricity production from coal-fired power stations since the country's industrial revolution in the 19th century, as stated by power grid operator National Grid on Friday.


Russia: Novatek will increase gas resources to preserve output, stabilize market share

24/04/2017 11:09:00

Novatek, Russia's biggest non-state natural gas producer, is seeking to increase its resource base to keep gas production and maintain stable its domestic market share, as stated on Friday by Leonid Mikhelson, the manager of the company.


Daily (24.04.2017): U.S. crude settled below $50 for first time in 2 weeks

24/04/2017 10:27:00

Oil prices fell over 2 percent on Friday, marking the biggest weekly drop in over a month on rising proof that U.S. production and inventory growth were counterbalancing OPEC's efforts to limit the global crude glut. Brent futures settled down $1.03, or 2%, at $51.96 a barrel. U.S. crude futures ended the session down 2.2 %, or $1.09 at $49.62 a barrel.