Daily (17.04.2019): NBP spot price plummeted by 5.2% on Tuesday, due to strong LNG arrivals

17/04/2019 10:18 Daily

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Oil prices added ground on Tuesday, bolstered by declining Venezuelan and Iranian exports and violence in Libya, which raised concerns over global crude supply.  Meanwhile, expectations for higher U.S. inventories limited gains. Brent crude rose by 0.8% to $71.72 a barrel, while WTI Crude increased by 1% to $64.05 a barrel.

British gas prices extended losses on Tuesday on milder weather forecasts and strong LNG imports. NBP spot plunged by 5.2% to 35.30 p/therm, while the contract for delivery in Q4 2019 traded 0.8% lower at 54.03 p/therm.

 

European day-ahead power prices decreased on Tuesday. The price for the German day-ahead power contract dropped by 2% to 40.81 EUR/MWh, due to increased renewable output. Meanwhile, the equivalent French contract traded 6.6% lower at 42.26 EUR/MWh, because of stable nuclear availability.

 

Along the curve, electricity prices also declined, tracking lower gas and coal prices. The price for the German power contract for delivery in 2020 fell by 1.3% to 50.23 EUR/MWh, while the equivalent French contract closed 1.3% down to 53.11 EUR/MWh.

 

EU carbon prices continued to be bullish on Tuesday, due to stronger auction demand that offset the bearish energy market signals. The price for the 2020-expiry contract traded 0.7% higher at 27.31 EUR/tonne.

Portugal books new Sabine Pass LNG cargo

11/07/2019 08:47:00

REN-operated Sines LNG import terminal in Portugal is set to receive a new cargo of the gas from Cheniere’s Sabine Pass LNG export terminal in Louisiana.

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Daily (10.07.2019): NBP spot declined by 3.7% on Tuesday, as a correction from the previous bullish session

10/07/2019 10:32:00

Crude oil prices nudged up on Tuesday, due to OPEC+ supply cut extension and rising tensions in the Middle East. However, U.S.-China trade dispute limited the gains. As a result, Brent crude inched up by 0.1% to $64.16 a barrel, while WTI futures closed 0.3% higher at $57.83 a barrel.

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Russian oil output falls to near 3-yr low in early July - sources

10/07/2019 09:43:00

Russian oil production fell close to a three-year low in early July, to 10.79 million barrels per day (bpd), dragged down by declining output at Rosneft , the country’s largest oil producer, industry sources told Reuters on Tuesday.

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