Daily (15.07.2019): NBP spot surged by 4.7% on Friday, due to rising gas-for-power demand ahead of an expected 3-day hot spell

15/07/2019 10:29 Daily


Crude oil prices slightly rose on Friday, after a tropical storm in the Gulf of Mexico caused disruptions in the local production, while tensions between Iran and the West continued to mount. Consequently, Brent crude traded 0.3% higher at $66.72 a barrel. However, forecasts for a global oil supply glut from the International Energy Agency and OPEC limited the gains, with WTI futures remaining almost flat at $60.21 a barrel.

Friday saw a surge in the British gas prices, as forecasts of a three-day hot spell and an expected increase in air conditioning energy consumption lifted gas-for-power demand. The NBP spot price soared by 4.7% to 35.85 p/therm, while the contract price for delivery in Winter 2019 hiked by 2.5% to 56.17 p/therm.


EU carbon prices hit a new 11-year high on Friday, extending gains into a third straight auction, amid renewed speculative buying, upward technical factors and weaker supply. Stronger gas prices lent more support to prices. As a result, the price for the 2020-expiry contract jumped by 1.8% to 29.19 EUR/tonne.


European prompt electricity prices tumbled on Friday, as comfortable weather reduced demand for cooling. The price for the German day-ahead power contract plunged by 17.7% to 37.24 EUR/MWh, pressured by stronger renewables generation. At the same time, the price for the equivalent French contract dipped by 11% to 36.44 EUR/MWh, amid steady nuclear availability.


Further on the curve, power prices remained bullish, supported by the upward evolution in carbon, gas and oil prices. The German power contract for delivery in 2020 ended 0.8% higher at 52.25 EUR/MWh, while the equivalent French contract advanced by 0.9% to 54.11 EUR/MWh.

Daily (27.01.2020): Brent oil posted a 6.4% weekly decline on concerns of a possible global coronavirus pandemic

27/01/2020 11:01:00

Oil prices posted their worst week since more than a year on Friday, on worries that the coronavirus will spread further in China, hurting demand for oil.


Oil Leaders at Davos Debate Tougher CO2 Cuts as Pressure Mounts

27/01/2020 09:14:00

The bosses of some of the world’s biggest oil companies discussed adopting much more ambitious carbon targets at a closed-door meeting in Davos on Wednesday, a sign of how much pressure they’re under from activists and investors to address climate change.


Russian gas exports helping Asia & Europe to transition to cleaner energy

27/01/2020 09:09:00

Russia will continue to be the biggest player on the global energy market with plans to increase natural gas deliveries to Europe and Asia, according to the head of the Russian Direct Investment Fund (RDIF) Kirill Dmitriev.