Daily (22.08.2019): NBP spot surged by 5.4% on Wednesday as the outage at Culzean gas field has been extended

22/08/2019 12:09 Daily

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Oil prices diverged on Wednesday. Brent crude price rose due to a higher-than-expected draw in U.S crude stockpiles, while WTI futures dropped due to continued worries about the global economy. Brent crude added $0.27, or 0.5%, to $60.30 a barrel. Meanwhile, WTI crude lost $0.45, or 0.8%, to end at $55.68 a barrel.

British forward gas prices increased on Wednesday as an unplanned outage at the Culzean gas field offshore Britain has been extended until Thursday. Hence, NBP spot climbed by 5.4% to 27.90 p/therm, while the Winter 2019 delivery contract ended 0.2% higher at 47.57 p/therm.

 

European spot power prices fell on Tuesday due to stronger wind and solar supply, and weaker demand in the region . The price for the German day-ahead power contract plunged by 12.9% to 36.31 EUR/MWh. Meanwhile, the equivalent French contract settled 2.2% lower at 33.29 EUR/MWh.

 

Forward electricity prices also nudged down, tracking weaker carbon prices. The price for the German power contract for delivery 2020 traded 0.9% lower at 48.34 EUR/MWh, while the equivalent French contract settled 1% down at 49.89 EUR/MWh.

 

European carbon prices failed again to maintain earlier gains, settling close to the €26 level on Wednesday, due to weak trading activity. The 2019-expiry contract lost 0.9% to trade at 26.02 euros/tonne.

 

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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.

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