Daily (20.09.2019): NBP spot fell by nearly 3% on Thursday, as low wind and reduced French power output boosted gas-for-power demand

20/09/2019 11:29 Daily


Crude oil prices turned bullish on Thursday, as traders started to doubt whether Saudi Arabia will be able to fulfill its pledge to restore lost production by September 30 and its capacity by November 30 after last weekend’s attack. Geopolitical risks were the main driver in the price rise, as the market await further reactions from Saudi Arabia and the U.S., which strive at building a peaceful coalition rather than engaging in a military action. A weaker U.S. dollar also supported prices. Brent crude rose by 1.3% to 64.40 USD/bbl, while WTI futures were rather steady at 58.13 USD/bbl. 

British gas prices varied on Thursday. NBP spot fell by 2.8% to 24.30 p/therm, amid lower gas-for-power demand caused by strong wind generation. Meanwhile, the July 2020 delivery contract edged 0.4% higher at 42.98 p/therm, stimulated by a decline in French power output due to a union strike at EDF. 


Sluggish consumption ahead of the weekend weighed on the European prompt electricity prices on Thursday. The price for the French spot contract slumped by 6% to 40.28 EUR/MWh, influenced by increased renewable power output. In the meantime, the German equivalent power contract settled 2.5% lower at 42.70 EUR/MWh. 


Forward electricity prices gained ground on Thursday, tracking bullish carbon and coal markets, and the upward movements in several gas futures. The German power contract for delivery in 2020 traded 1% higher at 50.12 EUR/MWh, while the equivalent French contract advanced by 0.8% to 52.33 EUR/MWh.  


The EU carbon prices reversed trend to climb on Thursday, boosted by renewed supply concerns and growing geopolitical tensions. The price for the 2021-expiry contract jumped by 2% to 26.58 EUR/tonne. 

Daily (18.09.2020): European carbon prices fell by more than 5% on Thursday due to stronger selling

18/09/2020 14:15:00

Oil prices rose for the third consecutive day on Thursday, following OPEC’s meeting which had a positive influence on market. However, oil market is still kept under pressure, due to higher supply and flagging demand. Hence, Brent crude soared by nearly 2.6% to $43.30 a barrel. While the American WTI crude gained 2% to settle at $40.97 a barrel.


Nuclear essential to hydrogen future

18/09/2020 08:50:00

Untapped options for clean hydrogen - including the use of advanced modular reactors - can put the world back on the pathway to meeting the Paris climate goals, according to a new report from energy research and consultancy firm LucidCatalyst. The report says the clean energy transition from oil to hydrogen-based fuels could be achieved with a global investment of USD17 trillion, spent over 30 years from 2020 to 2050.


WindEurope seeks clear policy for offshore hybrids

18/09/2020 08:44:00

Trade body calls on EU to enable projects that connect into multiple power markets