Daily (11.04.2019): The EU carbon prices hit a new 11-year high on Wednesday on Brexit delay optimism

11/04/2019 10:19 Daily


Crude oil prices increased on Wednesday, after EIA report showed that U.S. gasoline stocks plunged more than expected last week, offsetting the surging crude inventories. OPEC’s oil production at four-year low in March coupled with U.S. sanctions on Iran and Venezuela lent more support to prices. Brent crude price rose by 1.6% to $71.73 a barrel, while WTI futures traded 1% up at $64.61 a barrel.

British wholesale gas prices reversed the strong earlier gains on Wednesday, ahead of five LNG cargoes to arrive in Britain by April 20. The NBP spot price slumped by 4.3% to 40.40 p/therm. In the meantime, the contract price for delivery in August 2019 tumbled by 4.6% to 41.58 p/therm. 


The European day-ahead electricity prices continued to climb on Wednesday, due to cold weather forecasts and consequently firmer demand. The German spot power price surged by 4.5% to 44.74 EUR/MWh, supported by a drop in wind generation. Meanwhile, the equivalent French contract traded at the same price as the German one, posting a 1.5% hike, amid lower nuclear availability and reduced hydropower supply due to a 24-hour strike.


Along the forward curve, power prices added ground on Wednesday, bolstered by hiking carbon prices. The German power contract for delivery in 2020 ended 3.9% higher at 51.34 EUR/MWh. The equivalent French contract price jumped by 3.7% to close at 54.44 EUR/MWh.


The European carbon prices extended gains on Wednesday, reaching a fresh 11-year high, on signs of a looming Brexit delay. The price for the 2020-expiry contract spiked by 2.3% to 26.43 EUR/tonne.

Daily (01.06.2020): WTI crude hovered above $35 a barrel on Friday, gaining 6.7% for the week

01/06/2020 11:00:00

Crude oil futures gained ground in the last trading day of the month after the release of the EIA’s report showing a further drop in oil well drilling in the United States. Hence, Brent crude for July delivery rose slightly to $35.33 a barrel, while, the more active August contract settled at $37.84, edging $1.81 higher, or roughly 5%. WTI crude for July delivery settled at $35.49 a barrel, surging $2.24, or 5.3%.


Iberdrola subsidiary secures 62 Siemens Gamesa wind turbines for offshore project in France

01/06/2020 10:33:00

The wind turbines will be installed at Ailes Marines’s facility in France, generating 750 jobs in the process.


Italy's Enel to close one Brindisi coal unit in 2021

01/06/2020 10:30:00

Italian utility Enel will shut down one of the four units of its 2.4GW Brindisi south coal-fired plant starting from next year.