Daily (08.10.2018): European carbon prices jumped on Friday in a strong auction, posting over a 5% gain for the week

08/10/2018 11:18 Daily

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Oil crude prices were almost steady, in a balanced market, as Saudi Arabia and Russia declared about its intention to raise production to partly offset the disruption in Iran exports, as soon as U.S. sanctions will be applied on the 4th of November.


WTI crude remained stable and traded at $74.34 a barrel, whereas Brent price slipped by 0.5% to close at $84.16 a barrel. 

British wholesale gas prices were mostly bullish on Friday, despite higher-than-expected temperatures forecasts for this week and lower demand. NBP spot price settled 1.2% higher at 71.95 p/therm. Further along the curve, Summer 2018 delivery contract rose by 0.4% to end at 65.50 p/therm.


European spot power prices shed on Friday ahead of the weekend, due to lower consumption and warmer weather. The German day-ahead delivery contract settled 4% down at 57.91 EUR/MWh, due to higher wind generation. Meanwhile, the French equivalent contract lost 12.2% to end at 59.17 EUR/MWh, on forecasts for improved nuclear availability.


Along the forward electricity curve, contracts slightly improved on Friday, pushed up by gains in gas and carbon emissions prices. The German 2019-delivery contract ended at 55.85 EUR/MWh, increasing by 0.9%. Meanwhile, the French equivalent contract traded 0.3% higher at 60.55 EUR/MWh.


European carbon contracts prices continued to surge on Friday, in another bullish session. The contract expiring in 2020 was 3.9% up at 23.74 euros a tonne.
 

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