Daily (14.06.2017): EU carbon prices rose above €5 in a calm session on Tuesday

14/06/2017 13:53 Daily


Oil prices slightly rose on Tuesday, after Saudi Arabia vowed to make real supply cuts and OPEC reported an increase in its output and as traders anticipate a drawdown in U.S. crude inventories.

Brent crude prices increased by almost 0.9% to settle at $48.72 a barrel, while the West Texas Intermediate for July delivery rose by 0.82% to settle at $46.46 a barrel.


British prompt gas prices fell sharply on Tuesday as the Britain-Belgium gas link was shut down, trapping surplus gas in the UK. The NBP spot contract declined by 10.73% to end at 31.60 p/therm. The July 2017 gas contract tumbled by 2.22% to close at 35.19 p/therm.


European spot electricity prices for day-ahead delivery rose on Tuesday, on forecasts of lower power generation from German wind turbines, with a slight rise in French demand and tight nuclear supply also providing support. German spot power contract jumped by 14.26% at 32.42 euros/MWh, while French spot power contract rose by 4.67% to settle at 37.91 euros/MWh.


Further along the curve, German Cal 2018 contract fell by 0.75 % to end at 30.44 euros/MWh, while French Cal 2018 steadied at 36.02 euros/MWh.


EU carbon prices increased to end above €5 in a calm session that reflected the market’s reluctance ahead of an upcoming auction glut. The EUA Cal2019 contract was almost 2% up, settling at 5.14 euros/ton.

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The Premier Oil company intends to find a buyer for a half of its stake in the Babbage gas field, in the North Sea, pursuing the idea of reducing the debts accumulated at the time when the crisis hit the oil market.


Scottish scientists obtained hydrogen from tidal energy for the first time

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A Scottish research and demonstration centre declared being the first in producing the hydrogen gas from the tidal energy.


First sections of a power cable between UK and Belgium installed

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The first segments of an electricity cable have been already installed on the sea depth this week to link the UK and Belgium.