Daily (11.05.2018): EU carbon contracts hit new 7-year peaks on Thursday following energy gains

11/05/2018 13:47 Daily


Oil prices surged on Thursday, as US sanctions are most likely to affect oil flows from the major exporter Iran. 


Brent crude increased by 0.3% to settle at $77.47 a barrel. U.S. West Texas Intermediate futures went up 22 cents to reach $71.36 a barrel.


UK wholesale gas prices diverged on Thursday, driven on one side by above normal temperatures and on the other side by lower-than-expected supply, caused by certain domestic production disruptions. NBP spot price decreased by 0.3% to 53.45. Winter 2018 delivery contract closed 1.6% up at 60.73 p/therm. 


European prompt power prices soared on Thursday tracking the upward evolution of the carbon contracts. Germany’s baseload price for day-ahead delivery hiked by 67.3% to 42.20 euros a megawatt hour (MWh). Meanwhile, the French equivalent contract posted a 71.85% jump at 41.88 euros. 


Further along the curve, power contracts continued the bullish trend. German Cal 19’, the European benchmark, ended 0.7% up at 40.31 euros/MWh, while the French equivalent contract closed 0.8% at 45.18 euros/MWh.

EUAs carbon prices kept on rising to hit a new 7-year peak on Thursday as demand exceeded supply and a bullish energy complex. The carbon contract expiring in 2019 traded 4.3% up at 14.77 euros a tonne.

Egypt Signs New Agreements with European Oil Companies

15/08/2018 08:18:00

Egypt's Minister of Petroleum and Mineral Resources Tarek El-Molla signed three agreements today for the exploration of oil and natural gas in the Mediterranean, Western Sahara and Nile Delta.


Simec unveils 1GW Oz plans

15/08/2018 08:06:00

GFG Alliance subsidiary Simec Zen Energy has unveiled details about a $1bn, 1GW clean energy portfolio to be built in Whyalla, South Australia including the 280MW Cultana solar PV project.


Daily (14.08.2018): Carbon prices hiked by 1% to a new 7-year peak on Monday, tracking bullish coal markets

14/08/2018 13:00:00

Oil prices fell on Monday, mainly due to a sudden rise in inventories and escalating trade tensions between U.S and China, increasing worries about fuel demand. Brent crude was 20 cents, or 0.3%, down at $72.61 a barrel. Meanwhile, WTI crude slipped by 0.6% to end at $67.20 a barrel.