Daily (01.06.2018): European carbon contracts posted the biggest 5.8% daily loss in over a year on Thursday

01/06/2018 11:39 Daily


Oil prices were mixed on Thursday. Brent oil price rose slightly to $77.59 a barrel, due to a larger-than-forecasted drop in crude inventories. WTI crude declined as the Organization of the Petroleum Exporting Countries is likely to bring its supply-cut deal to a close by the end of the year. WTI futures fell by $1.17, or 1.7% to settle at $67.04 a barrel. 

Low consumption for this time of the year led to a decline in British wholesale gas prices on Thursday. UK day-ahead gas price dropped by 0.45 pence, or 0.8%, to end at 59.00 p/therm. Meanwhile, Q3 2018 delivery contract settled 2.1% down at 57.97 p/therm.

European prompt power prices soared on Thursday, lifted by a predicted increase in German consumption and a slump in renewables output. German day-ahead power price jumped by 21.4% to end at 51.30 euros/MWh. The French equivalent contract closed 1.8% higher at 46.78 euros/MWh.

Along the forward curve, electricity prices slumped due to forecasts for higher temperatures and thunderstorms. The German Cal 19’ European benchmark settled 1.1% lower at 41.67 euros/MWh. The French equivalent contract ended 0.6% down at 46.48 euros/MWh.

EU carbon prices registered the biggest daily loss in more than a year as wider energy markets are bearish after the decision of President Trump to impose steel and aluminum tariffs on the EU, Mexico, and Canada and due to precipitated selling at the end of the month. The carbon contract expiring in 2019 settled 5.8% down at 15.09 euros/tonne.



Daily (18.03.2019): European spot prices tumbled by over 30% on Friday due to strong renewables generation

18/03/2019 10:30:00

Oil prices edged lower on Friday as rising crude U.S. weekly production and worries about global economy put pressure on the market. Brent crude slipped by 0.1% to $67.16 a barrel, while WTI futures traded 0.2% lower at $58.52 a barrel.


Gazprom starts on Serbian CCGT

18/03/2019 09:06:00

Gazprom has started the construction of a 200 MW combined cycle gas turbine (CCGT) power plant in Serbia.


Bulgaria eyes to receive additional gas from Azerbaijan

18/03/2019 09:00:00

Bulgaria is interested in additional gas supplies from Azerbaijan, Bulgarian Prime Minister Boyko Borisov told reporters, Azernews informed. Borisov noted that during the meeting with President of Azerbaijan Ilham Aliyev, the issue of the construction of an interconnector for connecting to the TAP for the delivery of 1 billion m3 of gas to Bulgaria was discussed.