Daily (09.05.2019): WTI futures rose by 1.2% on Wednesday, due to an unexpected drawdown in U.S. crude stockpiles

09/05/2019 11:16 Daily

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Despite worries over the U.S.-Chinese trade negotiations, crude oil prices added ground on Wednesday due to a surprise drawdown in U.S. crude stockpiles. Brent crude edged 0.7% higher at $70.37 a barrel, while WTI futures traded 1.2% up at $62.12 a barrel.

British gas prices posted gains on Wednesday, as colder weather forecasts and lower wind output increased demand. NBP day-ahead price rose by 4.3% to 34.20 p/therm, while on the curve, the contract for delivery in Q4 2019 added 0.7% closing at 52.67 p/therm.

 

European spot power prices soared on Wednesday. The price for the German day-ahead power contract jumped by 14.6% to 45.25 EUR/MWh, due to low wind generation output and colder weather forecasts. Meanwhile, the equivalent French contract traded 16.3% higher at 44.66 EUR/MWh, following a rising demand after the end of a public holiday in the country.

 

Along the curve, electricity prices also posted gains tracking an upward evolution of oil prices. The price for the German power contract for delivery in 2020 rose by 0.9% to 50.00 EUR/MWh, while the equivalent French contract added 1% to close at 52.96 EUR/MWh.

 

EU carbon prices added momentum on Wednesday for the fourth day in a row, being supported by stronger gas and energy markets. The price for the 2020-expiry contract traded 1.9% higher at 27.19 EUR/tonne.

Daily (19.09.2019): French year-ahead power price surged by 4% on Wednesday, amid eased French nuclear reactor worries

19/09/2019 12:02:00

Crude oil prices continued to fall on Wednesday, as U.S. President chose to impose substantially increased sanctions rather than military action against Iran, while expressing U.S. readiness for the second measure. Further pressure came from Saudi Arabia’s commitment to bring its oil production back to pre-attack levels by the end of September. A surprise build in the U.S. crude inventories last week put more pressure on prices. As a result, Brent crude dropped by 1.5% to 63.60 USD/bbl, while WTI futures dipped by 2.1% to 58.11 USD/bbl.

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Encavis signs power purchase agreement for solar park in Spain

19/09/2019 09:30:00

German wind and solar energy company Encavis has signed a ten-year power purchase agreement (PPA) with an undisclosed international energy company for a solar park with 300MW capacity located in Talayuela, Central Spain.

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Romania's Cernavoda NPP shuts down Unit 1 for remediation works

19/09/2019 09:27:00

Romania's Cernavoda nuclear power plant (NPP) has shut down its Unit 1 in a controlled manner on Wednesday morning for remediation works to a process parameter, Cernavoda operator Nuclearelectrica said.

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