Daily (12.06.2018): Carbon prices slumped by 2.1% on Monday on worries about high auction supply

12/06/2018 14:57 Daily

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On Monday, oil prices edged slightly higher on optimism over the U.S. and Korea summit’s aftermath, between Donald Trump and Kim Jonh Un in Singapore.

Brent crude futures was stable at $76.46 per barrel. Meanwhile, U.S. West Texas Intermediate (WTI) crude futures rose by 0.6% to $66.10 a barrel.

Higher Norwegian flows contributed to a decline in most of the contracts along the curve. Q3 2018 delivery contract settled 0.7% down at 53.78 p/therm.

However, the price for day-ahead delivery contract boosted by 0.8% to 56 p/therm on forecasts for cooler weather.

 

European 2019-delivery electricity contracts dropped on Monday, following the downward trend in gas and carbon emission prices. The German year-ahead baseload price fell 1.5% to 41.14 euros/MWh. The French equivalent Cal’19 contract dipped by approximately 1% to close at 45.75 euros/MWh.

 

Forecasts for higher consumption boosted day-ahead power prices. The French spot electricity contract gained 8.43 euros to 48.19 euros/MWh, or a 21.2% increase. Meanwhile, Germany’s baseload contract for Tuesday delivery added 7.26 euros to settle at 49.73 euros/MWh, hiking by 17.1%.

 

Bearish EU carbon prices on Monday were seen at one-week low as traders are concerned about high auction supply and an approaching option expiry date. The carbon contract expiring in 2021 lost 2.1% to end at 16.60 euros a tonne.

 

Daily (18.07.2018): German spot power price dropped by almost 5% on Tuesday, on stronger wind generation and reduced demand

18/07/2018 11:28:00

Oil prices increased on Tuesday, due to a decline in stocks and as two of four processing terminals in Venezuela are likely to close because of scheduled maintenance this month. Brent crude rose by 0.5% to $72.16 a barrel. However, WTI crude was almost steady at $68.08 a barrel.

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China set to fully control Portugal’s power grid amid Europe’s inertia

18/07/2018 09:42:00

China is set to make further inroads into European infrastructure, as a state-owned company attempts to gain full control of Portugal’s power grid.

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Cuadrilla completes drilling of second horizontal shale gas well in UK

18/07/2018 09:21:00

This second horizontal well, drilled through the Upper Bowland shale at an approximate depth of 2,100m below the surface, extends laterally for some 750 metres through the shale gas reservoir.

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