Daily (15.02.2019): EU carbon prices slumped by around 6% to hit again a 2-month low on Thursday

15/02/2019 11:38 Daily

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Oil prices surged on Thursday, backed by OPEC-led supply cuts and expectations for a potential end to the U.S.-China trade talks. Brent oil extended a three-day winning streak, posting a 1.5% daily gain to settle at $64.57 a barrel. WTI crude rose less, by nearly 1% to $54.41 a barrel, as gains were limited by the lowest U.S. retail spending data since 2009 which raised worries over slower global economic growth.

British gas prices were bearish on Thursday due to milder weather and tepid demand amid an emerging glut fueled by stable Norwegian flows and robust LNG supply. NBP spot price dropped by 1.4% to 46.90 p/therm. Further on the curve, the NBP contract price for delivery in March traded 1.2% down at 47.07 p/therm.

 

 

Short-term forecasts for warmer-than-average temperatures curbed heating demand, weighing on European spot power prices on Thursday. Moreover, increased solar generation put more pressure on prices. The German day-ahead power contract closed 3% down at 47.62 EUR/MWh, while the equivalent French contract price tumbled by 3.2% to 48.85 EUR/MWh.

 

Further on the curve, electricity prices posted gains, tracking higher oil prices. The German power contract for delivery in 2020 edged 0.4% up at 45.85 EUR/MWh. The equivalent French contract inched 0.9% higher at 49.09 EUR/MWh.

 

European carbon prices plunged again on Thursday, hitting a new 2-month low. The 2019-expiry contract slumped by 5.5% to 19.78 EUR/tonne.

Daily (14.05.2019): NBP day-ahead price tumbled by 8.1% on Monday, due to milder weather forecasts

14/05/2019 11:01:00

Crude oil prices lost ground on Monday, as China-US trade negotiations escalated further, and China claims to impose higher tariffs on a range of U.S. goods. Investors fear that the trade war can intesify and cause disturbances in global economy. As a result, Brent crude edged 0.6% lower to $70.23 a barrel, while WTI futures traded 1% lower at $61.04 a barrel.

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Russia’s Novatek could almost triple Vysotsk LNG capacity

14/05/2019 08:50:00

Russia’s Novatek, the operator and developer of two giant Arctic LNG export projects, may significantly increase output at its medium-scale liquefied natural gas export plant in Russia’s Baltic Sea port of Vysotsk.

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Equinor increases stake in Gulf of Mexico oilfield

14/05/2019 08:47:00

Norwegian oil company Equinor has increased its stake in the Caesar Tonga oilfield in the U.S. Gulf of Mexico by buying Royal Dutch Shell’s 22.45% stake for $965 million in cash.

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