Daily (20.06.2019): NBP spot tumbled by more than 10% on forecasts for stronger LNG supply and warmer weather

20/06/2019 10:53 Daily


Calmer U.S equity markets led to a decline in oil prices on Wednesday. Brent crude ended 32 cents, or 0.5%, down at $61.82 a barrel. Meanwhile, WTI futures lost $0.14, or 0.3%, to close at $53.76 a barrel.

UK gas prices dropped on Wednesday on expectations for new LNG supply and higher temperatures for the next week. NBP spot price fell 3.05 pence, or 10.1%, to trade at 27.15 p/therm. Further along the curve, the Q3 2019 delivery contract settled 4.2% lower at 28.37 p/therm.


European prompt power prices were mixed on Wednesday. The German spot electricity price lost 11.7% to close at 36.39 euros/MWh, as holiday in certain parts of Germany reduced demand. However, the French day-ahed power price surged by 4.6% to end at 34.66 euros/MWh, on prospects of lower supply.


Further along the curve, prices lost ground on Wednesday, tracking a bearish energy complex. The German Cal 2020 delivery contract inched 1.5% down at 46.97 euros/MWh. The French equivalent contract traded 1.2% lower at 49.98 euros/MWh.


European carbon prices had a downward evolution on Wednesday, staying however close to the €25 level, as the Jun-19 options expired. The carbon contract expiring in 2019 ended 0.6% lower at 24.96 euros/tonne.

NTT to spend 600 billion yen on own grids for power business

12/11/2019 10:25:00

Nippon Telegraph and Telephone has decided to build its own power grids. Japan's largest telecom company plans, beginning in the year ending March 2021, to sell electricity from storage batteries at its roughly 7,300 office buildings around the country, mainly to hospitals and factories.


Israeli oil firm underlines faith in North Sea after $2bn expansion move

12/11/2019 10:22:00

Israeli oil firm Delek has underlined its readiness to increase investment in the North Sea after completing a $2 billion (£1.6bn) acquisition in the area.


Indonesia signs 20-year production sharing contract for Corridor block

11/11/2019 14:12:00

Indonesia’s government signed on Monday a production sharing contract with units of ConocoPhillips, PT Pertamina and Repsol SA for the Corridor natural gas blocks, Energy and Mineral Resources Minister Arifin Tasrif told reporters.