Daily (07.06.2019): NBP spot price plunged by 5.5% on Thursday, amid persistent oversupply

07/06/2019 09:32 Daily


Crude oil prices rose on Thursday, following the hiking U.S. stocks which were boosted by a report showing that U.S. could delay tariffs on imported goods from Mexico. Brent crude added 1.7% to trade at $61.67 a barrel, while WTI futures jumped by 1.8% to $52.59 a barrel. Still, last week’s surge in U.S. crude stocks coupled with new threats from U.S. President Donald Trump to impose tariffs on further Chinese goods could limit the rally.

UK gas prices dipped on Thursday, amid continued system oversupply due to robust Norwegian flows and slack consumption. Moreover, one LNG cargo is due to unload in Britain one of these days. As a result, the NBP spot price slumped by 5.5% to 27 p/therm. Along the curve, the contract price for delivery in Q3 2019 tumbled by 3.3% to 30.28 p/therm.


European day-ahead power prices diverged on Thursday. The German spot power contract gained 3.1% to end at 37.61 EUR/MWh, due to firmer demand driven by high temperatures and the start of the cooling season. On the other side, the price for the equivalent French contract plummeted by 21.1% to 26.45 EUR/MWh, on forecasts for a steep increase in wind power output, stronger solar power supply and ample nuclear availability.


On the curve, electricity prices pared earlier gains, tracking the downward evolution in the carbon and gas prices. The German power contract for delivery in 2020 edged 0.6% lower at 47.17 EUR/MWh. In the meantime, the price for the equivalent French contract slipped by 0.2% to 50.22 EUR/MWh.


EU carbon prices extended losses into a second consecutive auction on Thursday, influenced by the bearish movements on the gas market. The contract expiring in 2020 inched down by 1.1% to 24.28 EUR/tonne.

Daily (24.01.2020): Energy prices in a bearish mood on Thursday on worries about coronavirus, weaker demand and milder weather

24/01/2020 11:16:00

Oil prices ended lower on Thursday as the rapid spread of the new coronavirus could dent demand for black gold. Oversupply concerns, despite oil production disruption in Libya, also put pressure on prices.


Exxon Prepares Sale Of UK, German Oil & Gas Assets

24/01/2020 11:06:00

As part of its global program to sell assets, ExxonMobil is about to launch a process to sell its upstream oil and gas operations in the UK and Germany, Bloomberg reported on Thursday, quoting people familiar with the plans.


EBRD and EU to offer financial guarantees for renewable energy

24/01/2020 10:59:00

The European Bank for Reconstruction and Development (EBRD) has agreed on a new €50m programme of financial guarantees with the European Union (EU) to improve renewable energy development in the EU Neighbourhood regions.