Daily (11.11.2019): NBP spot jumped by 7.2% on Friday due to colder weather

11/11/2019 11:08 Daily

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Oil prices inched up on Friday despite U.S President Donald Trump not agreeing to decrease tariffs on China, but still accepting a potential deal to be struck by the end of the month. Hence, Brent crude traded 0.4% higher at $62.51 a barrel. WTI futures edged 0.2% higher at $57.24 a barrel.

British day-ahead gas price surged by 7.2% to 38.15 p/therm on Friday as low temperatures led to higher heating demand. Meanwhile, the Summer 2020 delivery contract dropped by 1.3% to 38.85 p/therm, on strong supplies from Norway.

 

European power prices were bearish on Friday on forecasts for a hike in German renewables production and increased nuclear generation in France. The German spot power price sank by 11.5% to 41.69 euros/MWh. Similarly, the French day-ahead power price tumbled by 13.8% to 41.69 euros/MWh.

 

Further along the curve, prices fell due to lower carbon and gas prices. The German Cal2020 delivery contract edged 0.5% lower at 46.18 euros/MWh . At the same time,the French equivalent contract traded 0.9% down at 48.50 euros/MWh.

 

European carbon prices were bearish on Friday  hitting a two-week low,  amidst weaker energy prices and macroeconomic concerns. The carbon contract expiring in 2021 ended 0.4% down at 25.23 euros/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.

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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.

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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.

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