Daily (07.09.2018): Carbon Contracts gained more than 5% on Thursday, due to limited allowance supply

07/09/2018 15:32 Daily

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Oil crude prices extended losses on Thursday, on worries about China’s demand amid growing trade disputes. Moreover, gasoline and distillate stocks at Cushing, Oklahoma delivery hub were at their highest level in four years, pressuring prices. Brent crude decreased by 1% to close at $76.50 a barrel, while WTI crude slumped by 1.4% to $67.77 a barrel.

After the impact of last week’s unscheduled shutdowns, UK gas contract prices continued to gain ground on Thursday, due to a slightly undersupplied system. NBP spot price jumped by 1.5% to 73.50 p/therm. October 2018 delivery contract traded 1.7% higher at 72.39 p/therm, on forecasts for cooler weather.

 

Lower demand due to approaching holidays and higher wind and nuclear outputs led to a decline in European power prices on Thursday. Both German and French electricity contracts for day-ahead delivery have been affected, decreasing by 4.4% to settle at 62.43 EUR/MWh and by 2.8% to close at 65.10 EUR/MWh respectively.

 

On the power curve, electricity prices had a bullish evolution, in line with related coal and carbon markets. The Cal’19 contracts were 2.4% up at 58.10 and 52.95 EUR/MWh, in France and Germany respectively.

 

EU carbon contracts were bullish on Thursday, because power prices continued to rise and new allowance supply was curbed in a rare auction-free session. Carbon prices rose by more than 1 euro per contract after previous declines, surpassing the €21 level. The contract expiring in 2020 settled 5.3% up at 22.23 euros a tonne.

 

Daily (14.05.2019): NBP day-ahead price tumbled by 8.1% on Monday, due to milder weather forecasts

14/05/2019 11:01:00

Crude oil prices lost ground on Monday, as China-US trade negotiations escalated further, and China claims to impose higher tariffs on a range of U.S. goods. Investors fear that the trade war can intesify and cause disturbances in global economy. As a result, Brent crude edged 0.6% lower to $70.23 a barrel, while WTI futures traded 1% lower at $61.04 a barrel.

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Russia’s Novatek could almost triple Vysotsk LNG capacity

14/05/2019 08:50:00

Russia’s Novatek, the operator and developer of two giant Arctic LNG export projects, may significantly increase output at its medium-scale liquefied natural gas export plant in Russia’s Baltic Sea port of Vysotsk.

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Equinor increases stake in Gulf of Mexico oilfield

14/05/2019 08:47:00

Norwegian oil company Equinor has increased its stake in the Caesar Tonga oilfield in the U.S. Gulf of Mexico by buying Royal Dutch Shell’s 22.45% stake for $965 million in cash.

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