Daily (19.03.2019): NBP gas prices continued to fall by around 1% on Monday due to oversupply

19/03/2019 10:13 Daily


Crude oil prices inched up on Monday supported by the extension of OPEC-led supply cuts and a decline in U.S. crude inventories. Brent crude edged 0.6% higher at $67.54 a barrel, while WTI futures traded 1% higher at $59.09 a barrel.

British gas prices continued their bearish evolution on Monday, as robust flows and six new LNG tankers to arrive this week are expected to leave the system oversupplied. NBP spot fell by 0.5% to 38.10 p/therm, while the contract for delivery in Q3 2019 lost 0.7% closing at 38.91 p/therm.


Colder weather and waning supply boosted European spot power prices on Monday. The price for the German day-ahead power contract soared by 163.3% to 45.34 EUR/MWh, while the equivalent French contract traded 155.3% higher at 45.31 EUR/MWh, on reduced nuclear power availability.


Along the curve, electricity prices lost ground, tracking lower gas, coal and carbon prices. The price for the German power contract for delivery in 2020 dropped by 1.8% to 45.79 EUR/MWh, while the equivalent French contract ended 1.4% down at 48.92 EUR/MWh.


EU carbon prices fell to the lowest level this month, due to a bearish energy complex. The price for the 2021-expiry contract decreased by 2.9% to 22.66 EUR/tonne.

Masdar, Armenia sign MoU for 500 MW of wind, solar capacity

15/07/2019 08:29:00

Armenian National Interests Fund (ANIF) on Friday signed a memorandum of understanding (MOU) with Abu Dhabi Future Energy Company, better known as Masdar, for the development of 500 MW of renewable energy capacity.


Polskie LNG hits 1000 LNG tank trucks milestone at Swinoujscie

15/07/2019 08:27:00

Polish LNG terminal operator, Polskie LNG, said it has reached a milestone at the President Lech Kaczyński facility in Świnoujście.


Aker BP makes oil discovery in NOAKA Area

15/07/2019 08:22:00

Aker BP is about to complete the Liatårnet exploration well in licence 442 in the NOAKA area.