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.

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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