Daily (03.12.2018): EUAs continued their bullish run on Friday, posting an increase of over 2%

03/12/2018 11:52 Daily

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A stronger dollar and global oversupply put pressure on oil prices on Friday. Nevertheless, losses were limited ahead of the 175’th Summit in Vienna, where OPEC and Russia will potentially talk about measures to reduce output. Brent crude price was 1.3% down at $58.71 a barrel, or more than a 1-year low. WTI crude also fell 1% to $50.93 a barrel.

A slightly oversupplied system due to robust flows from Norway led to a decline in the UK wholesale gas prices on Friday. NBP spot price decreased by 1.6% to settle at 63.25 pence per therm.  The scheduled shipment of LNG cargoes during the weekend also weighed down on prices. The Q1 2019 delivery contract lost 1.4% to close at 67.08 pence per therm.

 

European spot power prices dropped on Wednesday, due to stronger wind power generation and weaker demand. The German electricity price for day-ahead delivery plummeted by 18.5% to 46.86 EUR/MWh. In the meantime, the French equivalent contract traded 6.6 % lower at 58.06 EUR/MWh, due to a rise in nuclear availability.

 

Further along the curve, electricity prices edged slightly higher tracking the upward evolution in the carbon emissions and coal markets. The German 2019-delivery contract was almost constant at 52.46 EUR/MWh. At the same time, the French equivalent Cal’19 contract gained 0.8% to trade at 57.67 euros/MWh.

 

European carbon contracts were encouraged by bullish coal markets on Friday. Moreover, supply deficit led to a price surge in a tight session. The price for the contract expiring in 2020 added 2.3% to settle at 21.38 euros a tonne.
 

Daily (14.08.2019): Crude oil prices soared by nearly 5% on Tuesday, bolstered by the U.S. tariff delay on Chinese products

14/08/2019 11:46:00

The U.S. announcement on Tuesday about the 10% tariff delay for certain Chinese products spurred the biggest daily percentage gain in crude oil prices since December. Prices were also boosted by an expected decline in the U.S. crude inventories and Saudi Arabia’s firm intention to support OPEC-led supply cuts. Against that bullish background, Brent crude spiked by 4.7% to $61.30 a barrel, while WTI futures surged by 4% to $57.10 a barrel.

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Sonnedix to start construction of 171 MW PV plant in Chile

14/08/2019 09:03:00

Independent solar power producer (IPP) Sonnedix announced the start of the construction of a 171 MW PV plant located in the Pica district in the Atacama Desert in Chile.

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Rosatom postpones fast reactor project, report says

14/08/2019 08:48:00

Rosenergoatom, the nuclear power plant operator subsidiary of Russian state nuclear corporation Rosatom is expected to receive about RUB280 billion (USD4 billion) less in state funding for the construction of new nuclear reactors in Russia owing to the postponement of its fast neutron reactor programme, Russian newspaper Kommersant reported last week, citing anonymous sources.

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