Daily (25.05.2018): European carbon prices jumped by 1.8% to new seven-year highs on Thursday

25/05/2018 11:25 Daily


Oil prices declined to their largest one-day drop in two weeks on Thursday, on expectations that OPEC could gradually end an output deal due to concerns related to supplies from Venezuela and Iran. Brent crude lost $1.01, or 1.3%, to end at $78.79 a barrel. WTI futures dropped by $1.13, or 1.6%, to close at $70.71 a barrel.  

British wholesale gas prices fell on Thursday on forecasts for higher temperatures. UK day-ahead gas price lost 1.4 pence, or 2.3%, to settle at 58.35 p/therm. Meanwhile, Q3 2018 delivery contract ended 0.6% lower at 57.89 p/therm.

European prompt electricity prices rose lifted by gains in related coal and carbon emissions rights prices. The German day-ahead power price surged by 3.6% to close at 40.36 euros/MWh. The French equivalent contract ended 1.6% higher at 42.78 euros/MWh.

Along the forward curve, prices dropped on forecasts for reduced power consumption. German Cal 19’ European benchmark closed 0.7% down at 42.82 euros/MWh. The French equivalent contract settled 0.5% lower at 47.69 euros/MWh.

European carbon prices hiked to new seven-year peaks on Thursday before rebounding from a brief intraday slump under the €16 mark. The carbon contract expiring in 2019 traded 1.8% up at 16.48 euros/tonne.


Daily (20.03.2019): EU carbon prices fell by more than 3% on Tuesday, due to a bearish energy complex and continued Brexit uncertainty

20/03/2019 10:12:00

Crude prices diverged slightly on Tuesday. On one side, prices were supported by OPEC-led supply cuts OPEC. On the other side, rising U.S. output put pressure on the market. Brent crude edged 0.1% higher at $67.61 a barrel, while WTI crude traded 0.1% lower at $59.03 a barrel.


UK offshore oil and gas production up by a fifth over past five years

20/03/2019 10:02:00

UK offshore oil and gas production has increased by a fifth over the past five years, following 14 years of decline.


Ofgem backs 600MW Shetland grid link

20/03/2019 09:57:00

UK energy regulator Ofgem said is it minded to approve construction of a 600MW subsea interconnector from Shetland to mainland Scotland to support renewables expansion.