Daily (14.09.2017): EU carbon prices climbed to a new 19-month high on Wednesday

14/09/2017 10:52 Daily


Crude oil prices rose on Wednesday after the International Energy Agency (IEA) stated that a global surplus of crude was starting to shrink, even though U.S. data indicated another huge surge in domestic inventories due to Hurricane Harvey.

U.S. crude settled $1.07, or 2.2 percent, higher at $49.30 per barrel. London Brent crude increased by 89 cents, or 1.6 percent, to end at $55.16 a barrel.


UK wholesale gas prices jumped on Wednesday, because of a slightly undersupplied system and higher carbon prices. British day-ahead gas price soared by 1.05 pence, or 2.25%, to hit 47.70 p/therm. The October gas contract traded 0.19 pence, or 0.4%, up at 46.02 p/therm.


Electricity prices along the forwards curve have been boosted by firmer gas, oil and coal prices. German year-ahead power contract surged by 2.7 percent to hit a new 3-1/2 year high of 35.89 euros/MWh on Wednesday, as carbon rallied and coal, gas and oil also gained. German Cal '18, a benchmark for the European market, is presently 28 percent above its 2017 low attained in March. The equivalent French contract climbed 2% to settle at 42.11 euros/MWh.

Spot power prices increased on a predicted decline in wind power, which will reduce supply. German Thursday baseload power delivery was up 66 percent at 22.69 euros/MWh. The French day-ahead electricity contract traded 13.6 percent higher at 29.52 euros/MWh.


EU carbon prices climbed to a new 19-month high on Wednesday, reversing two days and as much as 10% of losses, as lawmakers supported plans to prop up the carbon market against an uncoordinated UK exit. December 2018 expiry EU carbon allowances hiked 3.4 percent to close at 7.13 euros a tonne.

Daily (17.11.2017): Increased U.S. production and inventories weighed on oil prices on Thursday

17/11/2017 11:19:00

Oil prices remained under pressure on Thursday as increasing U.S. output and inventories threatened to destabilise a rally sparked by reducing world supply.


Microsoft promises to cut carbon emissions by 75% by 2030

17/11/2017 08:01:00

The giant company Microsoft has declared about its intention to lower carbon emissions by 75 percent by 2030.


Spanish giant Iberdrola had a 18.4% growth in its net profit

16/11/2017 16:12:00

The Spain’s huge electricity, gas and services company, Iberdrola, gained a €2.41 billion net profit in the third quarter of 2017, or a 18.4% increase compared with the same period last year.