Daily (13.04.2018): European carbon prices soared by 1.3% to hit their two-week peaks on Thursday

13/04/2018 11:30 Daily


Oil prices were mixed on Thursday. Brent futures fell from peaks last reached in late 2014 due to a stronger dollar, while WTI crude rose on worries over a military clash in Syria. Brent crude ended 4 cents, or 0.1%, down at $72.02 per barrel. WTI futures edged 0.4% higher at $67.07 per barrel.

UK gas prices along the forward curve declined on Thursday because of an oversupplied system. Q3 2018 delivery contract closed 1% lower at 47.54 p/therm. Meanwhile, day-ahead gas price increased on forecasts for strong demand from gas-fired power stations. NBP spot added 2.5 pence, or 2.9%, to close at 53.00 p/therm.


European electricity prices surged on Thursday boosted by predictions of a slump in wind and solar power generation in Germany. German baseload contract settled 29.1% higher at 38.53 euros/MWh, while the French equivalent contract soared by 2% to 44.98 euros/MWh.

Further along the curve, German power contract for year-ahead delivery, Cal 19’ European benchmark, ended 0.4% higher at 38.04 euros/MWh. Meanwhile, French 2019 delivery contract traded 0.5% higher at 42.50 euros/MWh.

EU carbon prices jumped to two-week highs on Thursday in choppy trade, recovering strongly after a weak auction result and despite analysts’ predictions of a near-term correction. The carbon contract expiring in 2019 ended 1.3% higher at 13.71 euros/tonne.

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