Daily (08.01.2020): European carbon prices approached 35 EUR on Thursday, hitting a new all-time high amid a strong energy complex

08/01/2021 09:56 Daily


Crude oil prices were rather flat on Thursday, but remained at 11-month peaks, as investors focused on recent OPEC+ agreement to curb output instead of political turmoil in the United States. Hence, Brent crude added 0.2% to end at $54.38 a barrel. Meanwhile, U.S. WTI crude gained 0.4% to finish at $50.83 per barrel.

All British gas prices surged on Thursday, with NBP spot rallying by 8% to 58.85 p/therm amid low prospects for LNG deliveries to Europe and colder weather forecasts. Along the forward curve, the gas price for Q2 21 delivery jumped by 5.8% to 44.45 p/therm, supported by EUAs approaching 35 EUR /t.

European spot electricity prices climbed to multi-year highs on Thursday, propelled by forecasts of below-normal temperatures and weak renewable generation. As a result, the German day-ahead power price increased sharply by 10.5% to 78.34 EUR/MWh, while the French equivalent contract settled at 84.85 EUR/MWh, notching a 3.4% rise day-on-day.

Year-ahead electricity prices gained ground, in line with a record high for CO2. The German Cal’22 power rose by 2% to 50.84 EUR/MWh, while the similar French power contract ended at 52.05 EUR/MWh, posting a 1.5% gain day-on-day.

European carbon prices continued to rally on Thursday, to hit a new all-time high as expectations of colder weather lifted the whole energy complex. As a result, EUAs expiring in 2021 soared by 3.4% to 34.76 EUR/tonne.

Daily (26.02.2021): Brent crude rally take a breather, while U.S. WTI crude ends at its highest since May 2019

26/02/2021 09:49:00

Crude oil prices diverged on Thursday, with Brent crude steadying after a period of optimism amid concerns over OPEC+’s willingness to continue output cuts grow. In contrast, U.S. WTI crude gained ground, spurred by optimism of quickly depleting global oil inventories. Hence, Brent crude lost 0.2% to settle at $66.88 a barrel. Meanwhile, U.S. WTI crude rose by 0.5% to 63.53 a barrel, marking its highest finish since May 2019.


Portugal sees green hydrogen output by end-2022, $12 billion in investment lined up

26/02/2021 08:59:00

Portugal will start producing green hydrogen by the end of 2022 and already has private investment worth around 10 billion euros ($12 billion) lined up for eight projects that are expected to move forward, Environment Minister Joao Matos Fernandes said.


Geothermal energy projects in the US receive $46m boost

26/02/2021 08:55:00

A total of 17 projects in the US are receiving up to a total of $46 million (£33m) in funding for domestic, carbon-free geothermal energy, with the potential to supply power to homes across the country.