Daily (09.11.2018): Carbon prices gained 25% week-on-week to settle around the €20-level on Thursday in a tight session

09/11/2018 11:17 Daily


Oil futures continued the bearish run on Thursday, on worries about global oversupply due to the trade war between US and China, the world’s biggest economies. OPEC members stated that a reduction in outputs might be required. Brent crude significantly dropped by 2% to $70.65 a barrel. WTI crude also lost 1.6% to settle at $60.67 a barrel.

An oversupplied system because of robust LNG supplies and weaker demand contributed to a decline in most of the UK gas prices on Thursday. Consequently, Summer 2019 delivery price tumbled by 1.1% to 56.15 p/therm. However, an outage in Norway boosted the day-ahead gas price, with NBP spot rising by 1.6% to 64.00 p/therm.


European spot power prices for day-ahead delivery were bearish on Thursday, due to increased nuclear production and weaker demand. The baseload price for day-ahead delivery in Germany slumped by 5.3% to 59.51 euros/MWh. Simultaneously, the French spot electricity contract price shed by 3.9% to 60.52 euros/MWh.


Along the forward curve, electricity prices were bullish, following the solid growth in carbon contract prices. The German power contract for 2019 delivery price added 2% to 51.82 euros/MWh, while the French equivalent contract was 1.7% higher at 56.07 euros/MWh.

EU carbon contracts were flirting with the €20-level on Thursday, in another strong auction, posting a 25% gain during the week. The 2019-expiry carbon contract ended 4.9% higher at 19.93 euros a tonne, bouncing back from 6-month lows.

Daily (09.01.2019): German spot power contract was 15.9% higher on Tuesday on low wind output

09/01/2019 11:48:00

The strong upward evolution in oil prices on Tuesday was caused mainly by OPEC-led crude production cuts. The bullish trend was also backed by signs of progress in U.S.-China trade talks. Officials of the world’s two biggest economies expressed optimism on resolving the dispute. Brent crude soared by 2.4% to $58.72 a barrel, while WTI crude jumped by 2.6% to $49.78 a barrel.


Renewables power in German public supply tops 40% in 2018

09/01/2019 09:16:00

Renewables were responsible for 40.4% of Germany’s net electricity production on the public grid last year and ranked as the second largest power generation source, a new report shows.


BP approves $1.3bn expansion of Atlantis oil field in Gulf of Mexico

09/01/2019 09:10:00

BP has approved the $1.3bn phase 3 development of the Atlantis oil field located in deepwater Gulf of Mexico, offshore US.