Daily (08.11.18): Carbon prices surged by 6% around the 19-euro levels on Wednesday in a strong auction

08/11/2018 10:39 Daily

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Record U.S. crude production and increased concerns of a global oversupply put pressure on oil prices on Wednesday. US sanctions against Iran failed to support the market, as waivers have been offered to 8 eight countries, including three of the world's major importers, allowing them to continue acquiring Iranian crude for six months. 

Brent crude oil futures was 0.1% down at $72.07 a barrel. WTI crude futures fell by around 1% to $61.67 per barrel.

 

Expectations for cooler weather and stronger demand for heating contributed to a rise in British wholesale gas prices on Wednesday. Moreover, reduced flows from Norway due to an outage at Kollsnes gas processing plant also boosted prices. NBP day-ahead gas price surged by 4.1% to 63.00 p/therm. Further along the curve, Summer 2019 delivery contract traded 1.8% higher at 56.74 p/therm.


European spot power prices for day-ahead delivery soared on Wednesday, backed by lower renewables generation and forecasts for a boost in demand due to colder weather. German baseload spot electricity price for Thursday delivery gained more than 12.3 percent to 62.87 euros/MWh. In the meantime, the French equivalent contract added 10% percent to 62.96 euros/MWh.


On the year-ahead electricity curve, prices tracked the bullish evolution in carbon, coal and gas markets. German Cal’19 baseload power, the European benchmark, jumped by 2.6% to 50.79 euros/MWh. The French Cal’19 contract gained 2.7% to end at 55.14 euros/MWh.

 

European carbon prices hiked above the €19-level on Wednesday in a strong auction, reinforcing bulls’ confidence. The 2019-expiry contract closed 6% higher at 19 euros a tonne.


 

Daily (14.02.2019): Oil prices climbed by 1.8% on Wednesday, as Saudi Arabia plans to reduce crude exports and production

14/02/2019 12:16:00

Oil prices were bullish on Wednesday, after Saudi Arabia announced its plans to reduce crude exports and production. At the same time, rising U.S. crude inventories might still put pressure on the market. As a result, Brent crude increased by 1.9% to 63.61 USD/bbl. WTI crude rose by 1.5% to 53.90 USD/bbl.

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European consortium to buy 80% of Veja Mate offshore wind park

14/02/2019 10:10:00

A consortium led by asset manager Commerz Real AG and IKEA franchisee Ingka Group will acquire an 80% stake in the 402-MW Veja Mate offshore wind park in the German North Sea.

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Over 500 Agreements to be Signed at Russian Investment Forum

14/02/2019 09:55:00

Over 500 agreements worth a total of 800 billion roubles are expected to be signed at the Russian Investment Forum 2019. This preliminary estimate is based on the information from the Forum participants and from open sources.

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