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.


Trafigura boosts LNG volumes by 22 percent

11/12/2018 08:59:00

Trafigura, one of the world’s largest commodities trading firms, said its LNG volumes rose 22 percent in the 2018 financial year, driven by a surge in demand in Asia.


Daily (10.12.2018): German power spot price plunged by 72% on Friday due to strong wind generation

10/12/2018 11:23:00

An agreement reached by OPEC, Russia and several other producers to reduce output in 2019 boosted oil prices on Friday. Brent crude surged by $1.61, or 2.7 percent, to $61.67 a barrel. WTI crude jumped by 2.2% to $52.61 a barrel.


Norway approves PDO for Equinor’s Troll phase 3 project

10/12/2018 09:19:00

The Norwegian Ministry of Petroleum and Energy has approved Equinor and its partners’ plan for development and operation (PDO) of the NOK7.8bn ($920m) Troll Phase 3 development in the North Sea.