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Daily (11.01.2024): European carbon prices declined by around 3% on Wednesday amid bearish sentiment and notable increase in short positions
Oil prices fell by 1% on Wednesday due to a surprising rise in US crude inventories, causing concerns about the supply-demand balance. According to the report, US commercial crude inventories increased by 1.3 million barrels in the week ending January 5. As a result, Brent crude settled at $76.80, while WTI crude closed at $71.37 per barrel.
read more... 11/01/2024
UK fossil fuel use drops to lowest level since 1957
A new report has revealed that UK electricity generation from fossil fuels has fallen to the lowest level since 1957. Analysis from Carbon Brief, published on 3 January, shows a 22% year-on-year drop in fossil fuel usage in 2023, meaning fossil fuels account for just 33% of the UK’s energy mix.
read more... 04/01/2024
Daily (21.12.2023): European carbon prices marked their largest daily gain in 11 months on Wednesday, driven by fund position adjustments and bullish gas prices
On Wednesday, oil prices sustained their upward trend, partially influenced by tensions in the Red Sea. However, the increase in US crude and gasoline inventories limited the gains. Consequently, Brent crude rose by around 0.6% to close at $79.70, and WTI crude ended at $74.22 per barrel, 0.4% higher day-on-day.
read more... 21/12/2023
Spain produced just over half of electricity from renewable sources in 2023
The share of electricity generated in Spain from renewable sources rose to 50.8% in 2023 from 42.2% a year earlier as the country moves towards its decarbonisation goals, Energy Minister Teresa Ribera said on Tuesday.
read more... 20/12/2023
UK to implement carbon tariff by 2027, mirroring EU scheme
Britain said on Monday (18 December) it would implement a new import carbon pricing mechanism by 2027, with goods imported from countries with a lower or no carbon price having to pay a levy as part of decarbonisation efforts.
read more... 19/12/2023