Daily (19.05.2017): EU carbon prices surged over 4% to a monthly high

19/05/2017 10:22 Daily

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Oil prices continued to grow on Thursday, as most of the major producing countries suggested they would extend supply cuts to reduce an ongoing global crude glut.

Brent crude and U.S. WTI crude prices edged up 0.57% to close at $52.51 per barrel and $ 49.35 a barrel respectively.

 

British wholesale gas prices varied on Thursday. NBP spot gas price settled 0.05 pence down to end at 40.65 p/therm, due to lower exports. The Winter 2017 gas contract increased by around 0.5% at 45.94 p/therm, on forecasts of cooler weather.

 

European spot electricity prices surged on Thursday, due to declining wind power supply in Germany and a French nuclear outage.

 

German day-ahead power contract jumped by almost 5% at 34.47 euros/MWh, while the German Cal '18 benchmark price slightly grew by approximately 0.3% at 29.51 euros/MWh.

 

French spot electricity prices rose by 50 cents to close at 34.53 euros per MWh, while the French Cal '18 benchmark price was virtually flat at 35.65 euros per MWh.

 

EU carbon prices increased to a monthly high for a third consecutive session on Thursday as another strong auction moved carbon above a technical level that can precede more gains. The EUA Cal2018 contract was traded 4% higher at 4.81 euros/ton.


 

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