French and German electricity prices will be affected by the diverging wind trends on Monday
French and German power rates are expected to diverge on Monday. Higher wind generation is expected to pressure German spot prices, while higher demand combined with lower wind supplies should lift French day-ahead contract prices. LSEG data shows that the German and French baseload power contracts for Mondays were not traded by 8:56 GMT Friday. LSEG analyst Xiulan Xiulan said that the European power market showed a bearish sign on Monday. This was mainly due to strong wind generation in Germany and Austria. Data compiled by LSEG shows that German wind power production is expected to increase by 6.2 gigawatts on Monday, while French wind generation is projected down by 5.1 GW at 7.4 GW.
How much will the price of ROI-LNG drop by 2026? Russell
The market for liquefied gas is bracing itself for an increase in supply, mostly from the top exporter, the United States. However, it is not clear how low the spot price will need to fall to clear these additional volumes. According to commodity analysts Kpler, the global supply of super-chilled gasoline is forecast to reach 475 million metric tonnes in 2026. This represents a 10.2% increase over the 431 millions tons predicted for 2025. This figure is comparable to South Korea's total annual demand, which is the third largest LNG importer in the world behind China and Japan. Go Katayama, Kpler's principal LNG expert, told a Sydney seminar on Thursday that the U.S.
German spot prices jump on plummeting forecast wind
German spot contracts for Friday rose on the back of an anticipated sharp decline in wind power supplies, while French contracts fell. By 1030 GMT, the German baseload day-ahead contract was up 46.5% to 102.55 euro ($119.59). The French equivalent contract fell 16.1% to 26 euros/MWh. LSEG data revealed that German wind power production was expected to drop by 15.7 gigawatts, to 14.3 GW. French wind power output is projected to increase by 2.7 GW, to 12.4 GW. LSEG analyst Xiulan said that wind generation in Germany will be lower in the morning, then increase steadily throughout the afternoon. Imports are expected at all times.
Russell: China's imports of major commodities, other than iron ore, are decreasing.
Iron ore, despite steel's signs of pressure, bucking this trend and restraining imports in China. The General Administration of Customs released data on Friday showing that crude oil, natural gases, copper, and coal have all declined since September. In October, China, the largest crude oil importer in the world, had arrivals of 11,39 million barrels of crude oil per day. This was the third consecutive monthly decrease and down from 11,50 million bpd. Most likely, the easing of oil imports is a reflection on the higher global prices at the time that October cargoes were arranged.
Russell: China's imports of major commodities, other than iron ore, are decreasing.
Iron ore, a commodity that has been resilient in spite of the pressure on the steel industry, was the exception to the trend. The General Administration of Customs released data on Friday showing that crude oil, natural gases, copper, and coal have all declined since September. In October, China, the largest crude oil importer in the world, had arrivals of 11,39 million barrels a day (bpd). This was the third consecutive monthly decrease and down from 11,50 million bpd. Most likely, the easing of oil imports is a reflection on the higher global prices at the time that October cargoes were arranged.
Baker Hughes reports that US oil and gas drillers have added rigs to their fleet for the third time in just four weeks.
Baker Hughes, a leading energy services company, said that U.S. energy companies added oil and gas rigs this week for the third consecutive time in just four weeks. The number of oil and gas rigs, a good indicator of future production, increased by two in the week ending November 7 to 548. Baker Hughes reported that despite this week's increase in rigs the total count is still 37 rigs or 6% lower than this time last year. Baker Hughes reported that oil rigs remained at 414 in this week's report, while gas-rigs increased by three to 128 - their highest level since August 2023. The number of miscellaneous drilling rigs decreased by one, to six.
Demand increases and spot prices increase sharply as renewables decline.
The price of European prompt electricity rose on Wednesday as the wind and solar energy generation declined while the colder weather pushed up demand. Riccardo Paraviero, LSEG analyst, said that the future outlook was bullish. The main signal is a significant increase in residual load in Germany. LSEG data shows that the French day-ahead contract rose by 175% compared to its previous close of 55.0 euros (64.14 dollars) per megawatt at 0820 GMT. The German equivalent of the position was not traded, but it was bid at 109 Euros/MWh after closing at 95.8 Euros/MWh.
French spot prices drop on increased wind and nuclear energy supply
The spot price of electricity in France for Tuesday dropped due to an increase in the supply of wind energy and increased nuclear availability. LSEG data shows that the French day-ahead contract at 1040 GMT was 27.50 euros per megawatt at 32.07 dollars, a 40.5% decrease from the price paid on Monday. Data showed that the German equivalent is not traded. According to LSEG analyst Marcus Eriksson, residual load in Germany is expected rise due to stronger demand, and a weaker supply of wind power. However, exports are expected as well. LSEG data revealed that on the supply side German wind output was expected to drop by 4.2 gigawatts…
Baker Hughes reports that US oil and gas drillers have cut back on rigs in the US for the first time in 3 weeks.
Baker Hughes, a leading energy services company, said that the U.S. oil and gas companies have cut back on the number of rigs for the first time since three weeks. The number of oil and gas drilling rigs, a good indicator of future production, dropped by four in the week ending October 31 to 546, the lowest level since September. Baker Hughes reported that the total number of rigs is down 39, or 7% from this time last. The report said that oil rigs dropped by six this week to 414, their lowest since September. Gas rigs, on the other hand, rose by four, to 125, which is their highest level since August 2023.
Spot prices are affected by the increased supply of wind and nuclear energy
The European power price fell on Wednesday, as the availability of nuclear and wind generation increased while demand was flat. The LSEG analysis concluded that the thermal capacity was higher and that exports from Germany, the main producer, were indicated for tomorrow. LSEG data shows that the French baseload price for Thursday's delivery was 66 euros ($76.97), down 17.5% on its previous close. The German equivalent day-ahead contract fell 7.9% to 83 Euro/MWh. German wind production is expected to increase to 35.2 GW per day from 30.7 GW. Overnight, the French nuclear capacity increased by three percentage points to 74%.
Baker Hughes reports that US drillers have added oil and gas rigs to their fleets for the second week running.
Baker Hughes, a leading energy services company, said that U.S. firms added oil and gas rigs this week for the second consecutive week for the first since September. The number of oil and gas drilling rigs, a good indicator of future production, increased by two in the week ending October 24 to reach 550, its highest level since June. Baker Hughes reported that despite this week's increase in rigs the total number of rigs was still 35 rigs or 6% lower than this time last year. Baker Hughes reported that oil rigs increased by two this week to 420, while gas-rigs remained at 121.
German spot prices fall on strong wind supply
German spot prices for Friday were lower than the French equivalent price, as wind production is expected to increase and demand is seen declining. LSEG analyst Naser Hazemi stated that Germany's wind power production is increasing, and the solar industry has also increased. Lower demand, coupled with a higher supply, will reduce residual load. France, on the other hand, may become a net exporter, due to its bullish economic conditions. By 0956 GMT, the German baseload day-ahead contract was down 65.2% to 27.40 Euros ($31.95). The French equivalent contract increased by 77.8% to 32 euros/MWh.
Spot prices plunge as German wind floods supply
European power prices dropped sharply on Wednesday, as forecasts of a doubled German wind generation in the next day's time outweighed slight increases in demand. Also, French nuclear availability was tighter. "Wind energy production is increasing not only in Germany, but also throughout the Central West Europe region, reducing significantly the residual load average," said LSEG Analyst Naser Hashemi. He was referring to the low demand for thermal energy output. LSEG data shows that the French baseload price for the next day was 16 euros (18.66 dollars) per megawatt-hour (MWh) as of 0845 GMT. This is a 76.8% decrease from the previous closing.
German wind downturn boosts spot prices
The European immediate prices were lifted on Tuesday by the expectation of a sharp decline in German wind energy generation. This will turn the country into an importer the next day. The German signal is positive. LSEG analyst Xiulan Xiulan said that wind supply has decreased significantly. He also cited rising German demand. LSEG data shows that the French baseload price for the day was 69 euros ($80.47 per megawatt-hour (MWh) as of 0740 GMT. This is a 39.4% increase. The German day-ahead range was 119-124 Euros/MWh, with a closing price of 63.3 Euros. LSEG data shows that Germany's wind power output was 17.6 gigawatts on Wednesday.
Spot prices fall on German wind production
The European spot price for Tuesday dropped as the German temperatures are expected to increase and wind power production will rise. LSEG data shows that the German day-ahead price was 63.25 Euros ($73.76 per megawatt hour) at 0929 GMT. This is down 17.9% compared to Friday's closing price for Monday delivery. LSEG data revealed that the French baseload price for the day was 45 euros/MWh. On Friday, the Monday price was not traded. Wind and solar are increasing in Germany. According to LSEG analyst Xiulan He, the lower wind in France, Austria, and Germany is increasing residual load.
Increased wind production will weigh on Monday's spot prices
The strong increase in regional wind energy supply will likely bring down spot prices on Monday. The German and French baseload power contracts for Monday had not begun trading at 0824 GMT Friday after closing respectively at 108 and 90 euro per megawatt-hour on Thursday, LSEG's data showed. LSEG analyst Xiulan he said that the German residual load was expected to decrease by 16,2 gigawatts on Monday. The rest of the region is also experiencing losses due to the increase in wind energy supply. LSEG data shows that German wind power production is expected to increase by 16.9 GW Monday to 32.6 GW. French wind power is also projected to grow 8 GW from 12.6 GW.
Spot prices drop on increased wind supply
On Monday, the German Tuesday spot rate fell as it was expected that a rise in wind power would offset an increase in electricity demand. LSEG data shows that the German baseload electricity for Tuesday at 0924 GMT was 143.80 Euro per megawatt-hour, down 0.8% compared to Friday's closing price for Monday delivery. LSEG data revealed that the equivalent French contract was 90 euros/MWh. The Monday contract was not traded on Friday. LSEG data indicated that the German wind output is expected to increase by 5 gigawatts on Tuesday to 9.5 GW. The French output, however, was forecast to be 350 megawatts at 6.4 GW.
Baker Hughes reports that US drillers have cut back on oil and gas drilling for the first time in six weeks.
Baker Hughes, a leading energy services company, said that the U.S. oil and gas companies have reduced the number of oil rigs in operation this week, the first time in six weeks. The number of oil and gas rigs, a good indicator of future production, dropped by two in the week ending October 10 to 547. Baker Hughes reported that the total number of rigs is down 39, or 7% from this time last. Baker Hughes reported that oil rigs dropped by four this week to 418, while gas-rigs increased by two to 120 – their highest level since August. The Permian Basin, which is the largest oil-producing shale production formation in the United States, saw its rig count drop by one this past week, to 250.
Venture Global sinks after BP's arbitral win raises concerns over pending disputes
Venture Global's shares fell by about 20% Friday, after the U.S. exporter of LNG lost an arbitration against BP for failure to meet a long-term contract. This stoked fears of similar verdicts with other customers who are suing for billions of dollar compensation. The recent victory of Venture Global in an arbitration against Shell was a shock to BP. BP wants more than $1 billion plus interest and legal fees in damages. The final amount will be determined at a separate hearing scheduled for 2026. Venture Global, second largest U.S. supplier of liquefied gas…
Low wind supply lifts Monday spot prices
The spot price for Monday is expected to rise due to a sharp decline in the regional wind energy supply. LSEG data shows that the German Monday baseload electricity contracts reached 145 euros per Megawatt-hour at 0912 GMT Friday, a 51.8% increase from Thursday's closing price. LSEG data revealed that the equivalent French contract was not traded. Riccardo Paraviero, LSEG analyst, says that the German residual load will increase by 17.3 GW, which is slightly higher than the rest of Europe, mainly because wind power has decreased. LSEG data shows that German wind power production is expected to drop by 16.9 gigawatts on Monday to 4.4 GW.