Daily (05.04.2019): European power prices on the curve climbed by over 3% on Thursday following bullish carbon market

05/04/2019 10:13 Daily

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Oil prices varied on Thursday. Brent crude edged 0.1% higher at $69.40 a barrel on tightening global supply due to U.S sanctions on Iran and Venezuela, as well as OPEC-led output cuts. Meanwhile, WTI futures declined by 0.6% to $62.10 a barrel on rising production and higher crude inventories.

British gas prices extended gains on Thursday, on colder weather forecasts and rising carbon prices. NBP spot rose by 5.4% to 35.00 p/therm, while the contract for delivery in Q3 2019 traded 5% higher at 38.40 p/therm.

 

European day-ahead power prices were mixed on Thursday. The price for the German day-ahead power contract inched 0.6% higher at 42.28 EUR/MWh, on stronger consumption due to cooler temperatures. Meanwhile, the equivalent French contract traded 0.6% lower at 43.53 EUR/MWh, due to stable nuclear supply.

 

Along the curve, electricity prices rose on Thursday tracking higher gas and carbon prices. The price for the German power contract for delivery in 2020 surged by 3.5% to 48.53 EUR/MWh, while the equivalent French contract traded 3.2% up at 51.49 EUR/MWh.

EU carbon prices continued the upward evolution on Thursday, due to strong trading activity amidst Brexit optimism and a bullish energy complex. The price for the 2021-expiry contract settled 5.3% higher at 25.19 EUR/tonne.

Daily (01.06.2020): WTI crude hovered above $35 a barrel on Friday, gaining 6.7% for the week

01/06/2020 11:00:00

Crude oil futures gained ground in the last trading day of the month after the release of the EIA’s report showing a further drop in oil well drilling in the United States. Hence, Brent crude for July delivery rose slightly to $35.33 a barrel, while, the more active August contract settled at $37.84, edging $1.81 higher, or roughly 5%. WTI crude for July delivery settled at $35.49 a barrel, surging $2.24, or 5.3%.

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Iberdrola subsidiary secures 62 Siemens Gamesa wind turbines for offshore project in France

01/06/2020 10:33:00

The wind turbines will be installed at Ailes Marines’s facility in France, generating 750 jobs in the process.

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Italy's Enel to close one Brindisi coal unit in 2021

01/06/2020 10:30:00

Italian utility Enel will shut down one of the four units of its 2.4GW Brindisi south coal-fired plant starting from next year.

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