Daily (17.07.2017): EU carbon prices increased by 1.1% on Friday

17/07/2017 10:36 Daily

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Oil prices edged higher in rough trading on Friday, boosted by a report from the IEA that demand growth is accelerating and that oil stocks had fallen. The IEA raised its demand estimate for the Q2, while it reduced its figure for non-OPEC supply. Consequently, the oil market showed a vast deficit last quarter. Both, Brent crude and WTI prices rose by 1% to close at $48.91 a barrel and $46.54 a barrel respectively.

Prompt UK wholesale gas contracts declined due to strong supplies and reduced demand from gas-fired power stations. NBP spot price contract settled 0.81% lower on Friday at 33.15 p/therm. Further along the curve, the price for Winter 2017 delivery rose by approximately 0.2% to 44.40 p/therm.

 

Prices in the European wholesale power market declined on Friday. French demand was low due to the Bastille holiday on Friday. French utility EDF reported that two nuclear sites have ended their outage by July 16 and July 15 respectively. The picture for Germany was bearish as wind and solar power supply are expected to pick up, while the demand is likely to decrease slightly due to seasonal factors. German spot power contract closed 11.71% lower at 32.50 euros/MWh, while French electricity price fell by 4.55% to end at 32.50 euros/MWh. Further along the curve, German Cal 2018 benchmark price and French Cal 2018 contract tumbled by 0.6% to settle at 31.30, euros/MWh and 36.83 euros/MWh respectively.

 

EU carbon prices increased by 1.1% on Friday to reclaim some of the previous losses. The EUA Cal 2018 ended at 5.47 euros/ton, while the EUA 2019 settled at 5.55 euros/ton.

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