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

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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.

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The move will save UK consumers money on their bills over the 45-year cost period.

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Daily (25.05.2020): Oil futures settled lower on Friday amid U.S.-China turbulence, but posted a weekly gain

25/05/2020 10:35:00

Crude oil futures lost ground on Friday amid worries about economic recovery in China and rising tensions between Beijing and Washington.

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Daily (22.05.2020): NBP spot down 19% due to oversupply and weak demand

22/05/2020 09:27:00

Crude oil futures continued to climb in an optimistic climate on Thursday, to hit their highest settlement since March amid lower U.S. inventories and hopes for a recovery in demand for black gold. Hence, Brent crude for July delivery rose by 31 cents, or 0.9%, to settle at $36.06 per . At the same time, U.S. WTI crude gained 43 cents, or 1.3%, to end at $33.92 per barrel.

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