Daily (08.11.2019): NBP spot jumped by 5.5% on Thursday amid higher demand and weaker Norwegian pipeline supply

08/11/2019 10:11 Daily

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Crude oil prices firmed on Thursday, amid optimistic signs from China suggesting that the trade deal with the U.S. is moving closer to a much-awaited conclusion, raising hopes for a stronger crude demand. Under such circumstances, WTI futures spiked by 1.4% to $57.15 a barrel, while Brent crude inched up by 0.9% at $62.29 a barrel.

Colder weather forecasts and limited renewable power output boosted demand, driving the NBP day-ahead price 5.5% higher at 35.60 p/therm on Thursday. Reduced Norwegian flows lent more support to the spot contract. Meanwhile, UK forward gas prices decreased on Thursday, amid robust storages and abundant LNG supplies, with the March 2020 delivery contract 1.1% lower at 44.18 p/therm.

 

European spot electricity prices rebounded on Thursday, stimulated by a strong decline in wind and solar power generation. The price for the French day-ahead power contract surged by 11.2% to 48.38 EUR/MWh, on expectations for increased demand due to cooler temperatures. Similarly, the German equivalent contract gained 10.3% to close at 47.12 p/therm. 

 

Forward power prices remained bearish on Thursday, influenced by weaker gas futures. The price for the German 2020-delivery power contract retreated by 0.9% to 46.41 EUR/MWh, while the French equivalent contract ended 0.8% lower at 48.92 EUR/MWh.

 

The EU carbon prices edged higher on Thursday, amid mixed fuel prices. However, persistent concerns over downbeat German economic data limited gains. The 2020-expiry contract lost 0.6% to settle at 25.08 EUR/tonne.

Daily (08.07.2020): German and French spot electricity prices at their highest levels since the end of January amid lower renewables output and nuclear availability

08/07/2020 11:15:00

Crude oil futures were little changed on Tuesday as an apparent optimism that U.S. crude inventories will decline this week was overshadowed by the surge in coronavirus cases in parts of the world which continued to pressure prospects for energy demand. Hence, Brent crude for September delivery steadied at $43.08 a barrel, while the U.S. WTI crude stagnated at $40.62 a barrel.

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Denmark allows Nord Stream 2 to complete pipeline hit by US sanctions

08/07/2020 09:36:00

By allowing the usage of anchored vessels, the permit gives Nord Stream 2 more freedom of choice of Russian pipelaying vessels it can use for finalising construction

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Simply Blue seeks to survey area for up to 1-GW Celtic Sea wind farm

08/07/2020 09:32:00

Simply Blue Energy is seeking permission to conduct survey activities near the Kinsale gas platform in the Celtic Sea for a potential offshore wind project of 988 MW that will be using the Windfloat platform.

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