Daily (13.12.2018): NBP spot gained 1.6% on Wednesday due to cooler weather forecasts

13/12/2018 11:24 Daily

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Oil prices edged slightly lower on Wednesday, after Iran’s minister stated that opinions within OPEC related to output reduction differ. Nevertheless, losses were capped by the recent decline in Libya’s exports. Brent crude was almost unchanged at $60.15 a barrel. WTI crude lost 1% to end at $51.15 a barrel.

British wholesale gas contracts were bullish on Wednesday, as forecasts for lower temperatures and stronger demand for heating lent support to prices. NBP spot surged by 1.6% to 65 p/therm. Despite a slightly oversupplied system due to recent LNG arrivals and higher flows from Norway, the price for Summer 2019 delivery contract rose 1.5% to 57.27 p/therm.

 

On Wednesday, European power spot prices turned bearish. The German spot contract was 5.3% down at 66.24 EUR/MWh, due to forecasts for stronger wind generation. The electricity contract for Thursday delivery in France traded 1.7% lower at 69.83 EUR/MWh, with losses limited by higher demand on colder weather predictions.

 

Along the forward curve, prices extended gains on Wednesday, tracking carbon and gas markets. The Cal’19 delivery contract in Germany closed at 53.37 EUR/MWh and the equivalent French contract settled at 58.82 EUR/MWh, both increasing by around 1%.

 

European carbon prices hit a 2-month peak on Wednesday, in a strong session. The carbon contract expiring in 2021 closed at 23.10 EUR/ton, or around 6.1% higher.

Daily (21.06.2019): Brent crude price jumped by 4.3% due to a potential military conflict between US and Iran

21/06/2019 11:00:00

Oil prices surged on Thursday on worries about a conflict between Washington and Teheran, after Iran shot down a U.S. military drone. Prices were also backed by expectations that Fed would cut interest rates and U.S inventories would weaken. Brent crude rose by 4.3%, or $2.63, to $64.45 a barrel. At the same time, WTI futures added $3.31, or 6.2% to end at $57.07 a barrel.

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Siemens Gamesa turbines picked for 455-MW offshore wind project in Japan

21/06/2019 08:56:00

Siemens Gamesa Renewable Energy SA has been selected as the preferred supplier of turbines for an up to 455-MW offshore wind project in Japanese waters off the coast of Akita prefecture, the company announced on Wednesday.

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Poland offers assistance with gas transit via Ukraine

21/06/2019 08:53:00

Polish Government's Plenipotentiary for Strategic Energy Infrastructure Piotr Naimski says Poland is ready to launch a gas pipeline with the capacity of 2 billion cu m (bcm), which will link the Polish gas transportation system (GTS) with the Ukrainian one in Hermanowice, Ukrainian UNIAN reported.

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