Daily (15.11.2019): The German spot power contract lost 16.4% on Thursday, amidst a sharp rise in wind output

15/11/2019 11:07 Daily

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A build in U.S. crude inventories and higher oil production reported for this week put pressure on crude oil prices on Thursday. However, OPEC’s potential deepening of supply cuts later this year limited losses. Hence, Brent crude fell by 0.1% to $62.28 a barrel, while WTI futures dropped by 0.6% to $56.77 a barrel.

UK gas prices on the curve strengthened on a quiet trade on Thursday, influenced by the risk of a potential higher than expected demand of gas used for power next week. Consequently, the price for delivery in Q2 2020 rose by 1.4% to 38.53 p/therm. In the meantime, NBP spot fell by 0.8% to 38.20 p/therm, due to oversupply.

 

European spot electricity prices were mixed on Thursday. The price for the German day-ahead power contract plunged by 16.4% to 37.90 EUR/MWh, influenced by a sharp rise in renewables output and a fall in demand. Meanwhile, the price for the equivalent French contract rose by 8.2% to 57.41 EUR/MWh, due to an increase in electricity demand and a drop in supply.

Forward power prices extended their decline on Thursday, in reaction to the fall in carbon prices. The German power contract for delivery in 2020 traded 0.5% down at 45.35 EUR/MWh. The equivalent French contract price stayed flat at 48.03 EUR/MWh.

 

EU carbon prices reached a new 1-month low on Thursday on milder weather outlook and weak technical indicators. The price for the contract expiring in 2019 decreased by 1.8% to 23.96 EUR/tonne.

Middle East to become major LNG supplier as global fossil fuel demand wanes

15/09/2020 08:48:00

Coronavirus pandemic and climate policies will leave a lasting effect on global energy demand, says annual report.

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Daily (14.09.2020): Crude oil fell by nearly 6.7% on a weekly basis, amid global demand worries and rising crude stocks

14/09/2020 11:19:00

Oil prices declined on Friday posting their second consecutive weekly loss, amid worries over global fuel demand and a continuing rise in crude inventories. As a result, Brent crude fell by 0.6% to settle at $39.83 a barrel. Meanwhile, WTI futures was almost flat at $37.33 a barrel,

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Zeebrugge LNG marks another first

14/09/2020 10:27:00

Fluxys Belgium, the operator of the Zeebrugge LNG terminal, marked a new milestone at the facility.

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