Daily (10.07.2017): EU carbon prices hit a new 4-month high on Friday

10/07/2017 13:13 Daily

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Oil prices plummeted on Friday, toward their lowest finish in nearly two weeks, as a number of active U.S. oil rigs climbed higher, according to data from Baker Hughes released on Friday in the U.S. That was combined with the weekly rise in total U.S. crude production, reported the U.S. Energy Department Administration on Thursday. Brent crude fell by almost 3% to end at $46.71 a barrel, while the WTI price decreased by 2.83% to $44.23 a barrel.

British wholesale gas prices fell on Friday as high imports from Norway, the expectation of strong LNG deliveries over the next few days, including Britain's first shipment from the US, and weak gas demand amid warm weather lowered the prices. NBP spot contract fell by 3.11% to 35.85 p/therm. Further along the curve, August 2017 gas contract decreased by almost 1.7% to 36.17 p/therm. Winter 2017 gas contract dropped by 0.82% at 44.88 p/therm.

 

European day-ahead electricity prices fell on Friday in anticipation of higher wind power production. Also, French nuclear reactors returned from outages on Friday, as utility EDF restarted power stations. German spot power contract closed 7.82% lower at 34.40 euros/MWh, while French electricity price decreased by 15.10% to end at 34.40 euros/MWh. Further along the curve, German Cal 2018 benchmark price edged up by 0.41% to hit 31.84 euros/MWh – the week’s highest level. Meanwhile, the French power contract for delivery in 2018 settled around 0.5% up at 37.51 euros/MWh.

 

EU carbon prices increased by around 2% on Friday to hit a new 4-month high, supported by solid auction and technical breach. The price for the EUAs expiring at the end of 2018 closed at 5.39 euros/ton, while the EUA 2019 contract settled at 5.47 euros/ton.

Hungarian oil and gas major firm puts up on sale UK North Sea assets

07/12/2017 14:17:00

Hungarian oil giant MOL declared about its intentions to sell its assets off the UK causing continuous tensed events in the North Sea. This comes after four years the company entered the area.

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(07.12.2017): Weekly Energy Market Review at a Glance

07/12/2017 11:37:00

Here's a quick snapshot of the main energy indicators in the last 7 days.

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Daily (07.12.2017): WTI crude futures dipped by 2.9% on higher U.S. inventories of refined products

07/12/2017 11:03:00

Oil prices slumped on Wednesday after an unexpected increase in U.S. inventories of refined products that suggested demand might be weakening. Brent crude futures were down $1.64, or 2.6%, at $61.22 a barrel, after reaching a session peak of $62.93. Meanwhile U.S. crude futures dropped $1.66, or 2.9%, to close at $55.96.

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