Daily (13.10.2017): EU carbon prices hit their peak since January 2016, ETS reform talks

13/10/2017 10:55 Daily


Oil prices decreased on Thursday, after the Energy Department announced a larger-than-expected decline in U.S. inventories and a drop in weekly output. The market was influenced by a bearish outlook by the International Energy Agency, which reduced its forecast for oil demand for 2018.

Brent crude closed 69 cents, or 1.2 percent, down at $56.25 a barrel. Meanwhile, U.S. light crude fell 70 cents, or 1.4 percent, to $50.60 a barrel. Both benchmarks have increased by more than 20 percent from their lows in June as world oil markets constricted.


British wholesale gas prices tumbled on Thursday as the end of some outages in Norway contributed to a rise in imports to Britain, while predictions of high production from Britain's wind farms had curbed demand for gas from gas-fired power stations. NBP day-ahead gas price slumped by 2.25 pence, or 4.9%, to settle at 43.50 pence per therm. Next quarter delivery contract traded 0.5% lower at 52.28 p/therm.


German spot electricity prices were boosted by lower wind power generation projections on Thursday, while those in France fell on decreasing demand from high levels that had factored in concern about potential nuclear tightness in the mid-term. Germany’s power contract for Friday delivery jumped 55.8% to 39.55 euros per MWh. French day-ahead electricity price was off 5.3 % closing at 50.20 euros/MWh amid unseasonably warm weather and falling pre-weekend demand.

Power curve prices in Germany dropped slightly on Thursday. Meanwhile, forward contracts in France fell on profit-taking tracking bearishness in the local spot market. The power contract for delivery in 2018 in Germany edged 0.5% down at 35.77 euros/MWh. The French equivalent contract for year-ahead delivery was 1.8% lower at 42.70 euros/MWh, having attained a record high of 43.7 euros on Wednesday.

EU carbon prices hit their peak since January 2016 on Thursday in nervous trade as potentially conclusive ETS reform discussions carried on past market close. EU carbon permits expiring in December 2020 ended slightly up at 7.61 euros a tonne.


Daily (19.07.2018): UK gas prices boosted by around 2% on Wednesday, due to strong demand and lower supplies

19/07/2018 13:41:00

Oil prices surged on Wednesday, as U.S. government data pointed out stronger demand for gasoline and distillates. Brent crude climbed 1% higher to end at $72.90 a barrel. Meanwhile, WTI crude also hiked by 1% to $68.76 a barrel, even though U.S. oil production hit a new record of 11 million barrels per day.


EU and Ukraine in tug of war over Naftogaz unbundling

19/07/2018 09:46:00

The European Commission has repeated its insistence on breaking up the Ukrainian national gas and oil monopoly Naftogaz, separating transmission from production and supply, which the country had agreed to as a condition for receiving massive Western financing. Vice President Maroš Šefčovič, in charge of the EU’s Energy Union, is in talks in Berlin with Russian and Ukrainian counterparts to try to solve disputes over future Russian gas shipments via Ukraine.


Investment in new nuclear declines to five-year low

19/07/2018 09:39:00

Global energy investment fell for the third consecutive year in 2017, according to the International Energy Agency (IEA). Investment in nuclear power declined by nearly 45% last year to USD17 billion. Although spending on new reactors reached the lowest level in five years, investment on upgrades of existing units increased.