Daily (01.03.2019): EU carbon prices topped €22 a tonne on Thursday, rising for the fifth consecutive day

01/03/2019 11:01 Daily

news

Brent crude price reversed trend, turning bearish on Thursday, influenced by lower factory output reported by the two Asia’s biggest economies – China and Japan. The record level of U.S. crude stockpiles also weighed on prices. On top of that, the lack of a deal after the two-day summit between U.S. president Trump and North Korean leader Kim Jong Un left the financial markets under pressure.

 

Brent crude edged 0.5% down at $66.03 a barrel. Nevertheless, OPEC-led supply cuts and last week’s decline in crude U.S. crude imports to a two-decade low supported WTI crude price, which inched 0.5% up at $57.22 a barrel.

British wholesale gas prices continued their upward evolution on Thursday due to an increased gas-for power demand caused by weaker wind generation. However, stronger Dutch flows and robust LNG supplies put a cap on prices. NBP spot price was 0.1% up at 45 p/therm, despite milder-than-average weather. On the curve, the Summer 2019 delivery contract traded 1.1% higher at 45.02 p/therm. 

 

Forecasts for weaker renewable power generation and, consequently, lower supply, bolstered the European spot power prices on Thursday. In Germany, the price for the day-ahead power contract surged by 13.9% to 45.85 EUR/MWh, while the equivalent French contract price jumped by 10.6% to 44.35 EUR/MWh.

 

Along the curve, electricity prices extended gains, tracking firmer coal and carbon markets. The German power contract for delivery in 2020 ended 2% higher at 48.11 EUR/MWh. The equivalent French contract price rose by 2.2% to 51.25 EUR/MWh.

 

EU carbon prices posted further gains for the fifth day in a row, in a bullish session which was beyond traders' expectations. The price for the 2021-expiry contract added 2% to close at 22.52 EUR/tonne.

 

Daily (16.05.2019): British forward gas prices rose by almost 2% on Wednesday, tracking the bullish trend in oil prices

16/05/2019 10:36:00

Crude oil prices rose on Wednesday, due to the conflict in the Middle East that could disturb global supplies. Meanwhile, a surprise rise in U.S. crude stocks limited the gains. Brent crude climbed by 0.7% to $71.77 a barrel, while WTI futures settled 0.4% up at $62.02 a barrel.

<READ MORE

Gazprom confirms first gas via TurkStream by December

16/05/2019 09:15:00

Russia's Gazprom expects to send its first gas through the TurkStream natural gas pipeline to Turkey by the end of December, Gazprom's deputy chairman Vitaly Markelov said late Tuesday.

READ MORE

GE Steam Power and partners synchronize 900MW power unit to Polish grid

16/05/2019 09:03:00

GE Steam Power, Polska Grupa Energetyczna (PGE) and the GE-led consortium partners have synchronized the Opole Unit 6, with 900MW generating capacity, to the Polish grid.

READ MORE