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 (12.12.2018): Carbon prices slumped by more than 3% on Tuesday

12/12/2018 12:01:00

Oil prices rose slightly on Tuesday, due to weaker equity markets and worries about a possible U.S. government closure following Trump’s declaration related to the Mexican Border Wall. Brent crude edged 0.4% higher at $60.2 a barrel. Additionally, Libya's National Oil Company (NOC) stated that a force majeure situation occurred at the nation's major oilfield. WTI crude soared by 1.3% to $51.65 a barrel.


Eneco signs PPA for 487-MW Belgian offshore wind project

12/12/2018 09:16:00

Dutch utility Eneco, one of the shareholders in the 487-MW SeaMade cluster of offshore wind projects in Belgian waters, will buy the entire output of the complex, it said on Tuesday.


Novatek’s $27bn Yamal LNG project reaches full capacity

12/12/2018 09:12:00

Novatek and Total said that the $27bn Yamal liquefied natural gas project (Yamal LNG project) in Russia has reached full capacity following the launch of the third LNG train.