Daily (28.06.2019): NBP day-ahead plummeted by 9.5% on Thursday, due to bearish fundamentals and robust supply

28/06/2019 11:00 Daily

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Crude oil prices added ground on Thursday, on expectations that OPEC will extend an output cut agreement, while investors await a meeting between the United States and China that could ease current trade tariffs. As a result, Brent crude inched 0.1% up at $66.55 a barrel, while WTI futures settled 0.1% up at $59.43 a barrel.

British wholesale gas prices slumped on Thursday, due to bearish fundamentals and robust supply. NBP spot plummeted by 9.9% to 23.80 p/therm, while the contract for delivery in Q1 2020 settled 1.3% lower at 54.66 p/therm.

European prompt power prices extended gains on Thursday, due to a sharp drop in wind power output both in Germany and France. The price for the German day-ahead power contract climbed by 22.5% to 43.45 EUR/MWh.  The equivalent French contract settled 12.1% higher at 35.02 EUR/MWh, influenced by a projected increase in consumption.

 

Meanwhile, forward electricity prices also added small gains, tracking higher gas prices. The price for the German power contract for delivery in 2020 edged 0.2% up at 49.47 EUR/MWh, while the equivalent French contract traded 0.1% higher at 52.58 EUR/MWh.

 

EU carbon prices turned bearish on Thursday, ahead of higher auction volumes next week. The price for the 2019-expiry contract traded 1.8% lower at 26.89 EUR/tonne.

Vestas scoops 415MW prize at Saudi mega-farm

17/07/2019 08:25:00

Vestas has secured a 415MW turbine order for Saudi Arabia’s first utility-scale wind farm.

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Daily (16.07.2019): EU carbon prices extended a fresh 11-year high on Monday, boosted by a weakening allowance supply

16/07/2019 10:15:00

Crude oil prices decreased on Monday, following mixed Chinese economic data and amid anticipations of a short-term impact of the tropical storm in the Gulf of Mexico on U.S. offshore oil output. A softening in the tensions between the West and Iran added pressure on prices. Consequently, Brent crude edged down by 0.4% to $66.48 a barrel, while WTI futures lost 1.1% to settle at $59.58 a barrel.

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Aker Energy secures funding for offshore oil project in Ghana

16/07/2019 10:09:00

Africa Finance Corporation (AFC), an infrastructure solutions provider in Africa, has decided to finance Aker Energy’s deepwater project located offshore Ghana by investing in $100 million of convertible bond notes with a commitment to participate in follow on fund raising activities.

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