Daily (27.09.2019): European carbon prices jumped by 1.7% on Thursday amidst bullish technical signs

27/09/2019 11:13 Daily


Crude oil prices were mixed on Thursday. Brent crude inched up by 0.6% to $62.74 a barrel, following Donald Trump’s affirmation that a deal between China and U.S. could happen sooner than expected. Meanwhile, sluggish economic data in major European economies and Japan, as well as a faster-than-anticipated recovery of Saudi output after the recent attacks sent WTI futures 0.1% down at $56.41 a barrel on Thursday.

British gas prices were mixed on Thursday. NBP day-ahead price decreased by 1.2% to 24.70 p/therm, due to oversupply. On the curve, prices strengthened backed by the increase in carbon prices, which could result in higher gas burn, and outages affecting Norwegian flows. Hence, the contract price for delivery in Q1 2020 rose by 1% to 53.21 p/therm.


European spot power prices were bearish on Thursday. The price for the German day-ahead power contract fell by 7.5% to 38.44 EUR/MWh amidst rising wind power supply. At the same time, the equivalent French contract settled 5.3% lower at 37.24 EUR/MWh, due to steady nuclear availability and lower demand.


Meanwhile, higher gas and carbon prices lent support to forward electricity prices on Thursday. The price for the German power contract for delivery in 2020 edged 0.3% higher at 48.64 EUR/MWh. The equivalent French contract remained almost flat at 51.12 EUR/MWh.


EU carbon prices reversed trend posting gains on Thursday amid bullish technical indicators. The contract expiring in 2021 rose by 1.7% to 26.29 EUR/tonne.

Coronavirus widens climate rift between European and U.S. oil majors

18/05/2020 11:56:00

Europe’s top oil and gas companies have diverted a larger share of their cash to green energy projects since the coronavirus outbreak in a bet the global health crisis will leave a long-term dent in fossil fuel demand, according to a Reuters review of company statements and interviews with executives.


French group Total buys up some assets from Portugal's EDP

18/05/2020 11:49:00

French energy group Total (TOTF.PA) said on Monday it had agreed to buy up a large customer portfolio from Energías de Portugal (EDP.LS) and two of EDP’s gas-fired combined cycle power plants, making it a leading player in the Iberian market.


Daily (18.05.2020): Brent crude gained 5% and WTI 19% for the week, driven by a mix of bullish news

18/05/2020 11:41:00

Crude oil futures climbed on Friday, as worldwide countries eased travel restrictions and following the release of better than expected Chinese industrial production data, indicating a recovery in oil demand. Hence, Brent crude settled up $1.37, or 4.4% a barrel at $32.50, while the U.S. WTI crude soared by $1.87, or 6.8%, to close at $29.43 a barrel. Both contracts posted gains for the third consecutive week.