Daily (17.12.2018): EUA’s hiked by 4.6% on Friday, or around 15% increase week-on-week.

17/12/2018 11:50 Daily

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Oil prices shed on Friday, after data indicated a lower-than-forecasted demand for crude in China and weaker stock markets. Brent crude lost 1.9% to $60.28 a barrel. Meanwhile, WTI crude tumbled by 2.6% to $51.20 a barrel.

British gas prices soared again on Friday, on predictions of lower temperatures and, consequently, stronger demand for heating. Moreover, reduced wind generation contributed to higher gas-for-power demand. The NBP spot price was 1.1% up at 66.95 p/therm. Further along the curve, January 2019 delivery contract ended 2.1% higher at 67.95 p/therm.

 

European spot electricity contracts were bearish on Friday. The German spot power price plummeted by 23.5% to end at 54.41 euros/MWh, on forecasts for an increase in wind production. At the same time, the French spot price tumbled by 18.6% to 61.30 euros/MWh, due to lower demand amid expectations for higher-than-average temperatures.

 

On the power curve, year-ahead electricity contracts posted slight gains, tracking the strong bullish evolution in carbon emissions prices. The German baseload electricity price for next year delivery rose 2.2% to 55.92 euros/MWh. The equivalent French contract traded 2.1% higher at 61.34 euros/MWh.

 

EUAs continued their upward trend to hit new highs above the €24-level on Friday. The carbon contract expiring in 2020 closed 4.6% up at 24.30 euros a tonne, in a tight auction.
 

Daily (20.06.2019): NBP spot tumbled by more than 10% on forecasts for stronger LNG supply and warmer weather

20/06/2019 10:53:00

Calmer U.S equity markets led to a decline in oil prices on Wednesday. Brent crude ended 32 cents, or 0.5%, down at $61.82 a barrel. Meanwhile, WTI futures lost $0.14, or 0.3%, to close at $53.76 a barrel.

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Reabold Resources and partners discover massive onshore gas field in UK

20/06/2019 09:54:00

Reabold Resources and its partners Union Jack Oil and Rathlin Energy have announced the discovery of what could potentially be the UK’s largest onshore gas field.

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Norway seeks to open areas to hold up to 3.5 GW of floating wind

20/06/2019 09:50:00

Norway’s Ministry of Petroleum and Energy will consider opening two offshore areas for applications to build floating wind parks with a total potential capacity of up to 3.5 GW, it announced today.

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