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 (20.03.2019): EU carbon prices fell by more than 3% on Tuesday, due to a bearish energy complex and continued Brexit uncertainty

20/03/2019 10:12:00

Crude prices diverged slightly on Tuesday. On one side, prices were supported by OPEC-led supply cuts OPEC. On the other side, rising U.S. output put pressure on the market. Brent crude edged 0.1% higher at $67.61 a barrel, while WTI crude traded 0.1% lower at $59.03 a barrel.


UK offshore oil and gas production up by a fifth over past five years

20/03/2019 10:02:00

UK offshore oil and gas production has increased by a fifth over the past five years, following 14 years of decline.


Ofgem backs 600MW Shetland grid link

20/03/2019 09:57:00

UK energy regulator Ofgem said is it minded to approve construction of a 600MW subsea interconnector from Shetland to mainland Scotland to support renewables expansion.