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

08/11/2018 10:39:00

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.


Lietuvos Energija finalises acquisition of 34-MW wind portfolio in Lithuania

08/11/2018 10:13:00

Lithuania’s state-owned Lietuvos Energija has completed the acquisition of a 34-MW wind portfolio in Lithuania from domestic wind farm operator Stemma Group.


PGNiG snaps more US LNG with Cheniere supply deal

08/11/2018 10:06:00

Polish Oil and Gas Company (PGNiG) has signed a supply deal with Houston-based Cheniere for the delivery of more US LNG to the President Lech Kaczyński LNG Terminal in Świnoujście.