Daily (12.11.2019): French spot power price surged by over 16% on forecasts for higher demand amid colder weather

12/11/2019 11:17 Daily

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Oil prices dropped on Monday due to a lack of direction in the U.S- China trade negotiations. Hence, Brent crude closed 0.5% lower at $62.18 a barrel, while WTI futures fell by 0.7% to $56.86 a barrel.

British gas prices declined on Monday due to an oversupplied system as imports through the Langeled pipeline were at maximum capacity. Moreover, three more LNG cargoes are expected to arrive this week. NBP spot price dropped by 3.9% to 36.65 p/therm. Meanwhile, the Summer 2020 delivery contract ended 1.2% lower at 38.40 p/therm.


European prompt power prices rose on Monday on forecasts for higher demand used for heating due to falling temperatures. The German spot power price surged by 1.2% to 42.20 euros/MWh. The French day-ahead electricity price jumped by 16.2% to 48.45 euros/MWh. 
Further along the curve, contracts were pushed upwards by stronger carbon markets. The German Cal 20’ delivery contract edged 0.1% higher at 46.24 euros/MWh. The French equivalent contract closed 0.3% higher at 48.66 euros/MWh.
 
European carbon prices were slightly above the €25 level on Monday amid slightly improved economic figures and a satisfactory auction performance. The 2021-expiry contract traded 0.3% higher at 25.31 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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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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