Daily (21.08.2019): NBP Sep19 price jumped by almost 5% due to an outage at the Culzean gas field

21/08/2019 11:38 Daily

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Crude oil prices were rather steady on Tuesday. Brent crude inched up by 0.5% to $60.03 as tensions between U.S. and China eased. However, WTI futures dropped by 0.1% to 56.13 amidst continued concerns over global demand.

UK gas prices rose on Tuesday, due to an unplanned outage at the Culzean gas field. Moreover, forecasts for lower wind output and stronger gas-for-power demand lent more support to prices. As a result, the contract for delivery in September 2019 settled 4.9% higher at 31.50 p/therm.

 

European spot power prices diverged on Tuesday. The price for the German day-ahead power contract rose by 4.7% to 41.68 EUR/MWh, due to a potential fall in wind production. Meanwhile, the equivalent French contract settled 1.7% lower at 34.03 EUR/MWh, due to a lower demand in the region.

 

Meanwhile, forward electricity prices were almost flat. The price for the German power contract for delivery in 2020 remained unchanged at 48.77 EUR/MWh, while the equivalent French contract settled at 50.40 EUR/MWh.

 

EU carbon prices extended losses on Tuesday, due to weaker daily activity and bearish technical signals. As a result, the 2020-expiry contract closed 1.2% lower at 26.53 EUR/tonne.

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08/11/2019 10:11:00

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08/11/2019 09:54:00

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