Daily (21.10.2019): NBP spot jumped by 5.8% on Friday, due to unscheduled outages at the Forties oil and gas pipeline

21/10/2019 11:28 Daily


Oil prices edged lower on Friday following data indicating that the Chinese economy registered the slowest growth in nearly three decades. Ongoing trade negotiations between China and U.S. and the rising amount in crude stockpiles also put pressure on prices. Hence, Brent crude dropped by 0.8% to end at $59.42 a barrel, while WTI futures lost 0.3% to settle at $53.78 a barrel.

A series of unscheduled outages, including a shutdown of the Forties oil and gas pipeline drove British day-ahead gas prices higher on Friday. NBP spot hiked by 5.8% to 27.50 p/therm. Meanwhile, lower oil prices weighed on forward gas prices. Consequently, the Q2 2019 delivery contract settled 1.3% lower at 42.47 p/therm.


A recovery in thermal power availability and lower demand due to milder weather put pressure on European day-ahead electricity prices on Friday. The German spot power price plunged by 15.7% to 33.09 EUR/MWh. The equivalent French contract fell by 6.4% to 33.09 EUR/MWh, amid balanced nuclear power supply.


Forward electricity prices lost ground on Friday, influenced by bearish carbon and gas markets. The price for the 2020-delivery German power contract inched down by 0.3% to 48.56 EUR/MWh, while the equivalent French contract was almost flat at 51.34 EUR/MWh.


European carbon prices nudged down on Monday, amidst a weak auction result and ahead of the British vote on the Brexit deal. The 2019-expiry contract closed 0.7% lower at 25.88 euros/tonne.

Daily (11.11.2019): NBP spot jumped by 7.2% on Friday due to colder weather

11/11/2019 11:08:00

Oil prices inched up on Friday despite U.S President Donald Trump not agreeing to decrease tariffs on China, but still accepting a potential deal to be struck by the end of the month. Hence, Brent crude traded 0.4% higher at $62.51 a barrel. WTI futures edged 0.2% higher at $57.24 a barrel.


Aker BP plans early startup at Norway's Aerfugl gas field

11/11/2019 10:19:00

Oil and gas firm Aker BP will accelerate the startup of production from Norway’s Aerfugl natural gas field, the company said on Monday.


Olkiluoto EPR start-up delayed by final checks

11/11/2019 10:17:00

Areva-Siemens has told TVO the final verification of the mechanical, electrical and the instrumentation and control (I&C) systems has to be done carefully and to a high standard.