Daily (10.07.2017): EU carbon prices hit a new 4-month high on Friday

10/07/2017 13:13 Daily

news

Oil prices plummeted on Friday, toward their lowest finish in nearly two weeks, as a number of active U.S. oil rigs climbed higher, according to data from Baker Hughes released on Friday in the U.S. That was combined with the weekly rise in total U.S. crude production, reported the U.S. Energy Department Administration on Thursday. Brent crude fell by almost 3% to end at $46.71 a barrel, while the WTI price decreased by 2.83% to $44.23 a barrel.

British wholesale gas prices fell on Friday as high imports from Norway, the expectation of strong LNG deliveries over the next few days, including Britain's first shipment from the US, and weak gas demand amid warm weather lowered the prices. NBP spot contract fell by 3.11% to 35.85 p/therm. Further along the curve, August 2017 gas contract decreased by almost 1.7% to 36.17 p/therm. Winter 2017 gas contract dropped by 0.82% at 44.88 p/therm.

 

European day-ahead electricity prices fell on Friday in anticipation of higher wind power production. Also, French nuclear reactors returned from outages on Friday, as utility EDF restarted power stations. German spot power contract closed 7.82% lower at 34.40 euros/MWh, while French electricity price decreased by 15.10% to end at 34.40 euros/MWh. Further along the curve, German Cal 2018 benchmark price edged up by 0.41% to hit 31.84 euros/MWh – the week’s highest level. Meanwhile, the French power contract for delivery in 2018 settled around 0.5% up at 37.51 euros/MWh.

 

EU carbon prices increased by around 2% on Friday to hit a new 4-month high, supported by solid auction and technical breach. The price for the EUAs expiring at the end of 2018 closed at 5.39 euros/ton, while the EUA 2019 contract settled at 5.47 euros/ton.

Global energy consumption to rise by 28% between 2015 and 2040

19/09/2017 13:59:00

By the year 2040, global energy consumption might increase by 28%, as forecasted by the US Energy Information Administration (EIA).

<READ MORE

Kazakhstan will get from Vitol up to $5 billion for oil deals

19/09/2017 13:15:00

Commodity trader Vitol has increased its export prepayment loans to state oil companies in Kazakhstan to US$5 billion, reinforcing its position in extracting Kazakh oil at a moment when the production of the central Asian nation might grow, as reported by Financial Times on Monday.

READ MORE

Daily (19.09.2017): European carbon contracts traded 3% down on Monday on lower coal and power prices

19/09/2017 10:57:00

Crude oil prices dropped slightly on Monday, but remained close to recent highs as traders braced for a potential stockpile build, likely to occur later this week.

READ MORE