Daily (11.10.2019): EU carbon prices climbed by 2.5% on Thursday, following positive negotiations between the UK and Ireland

11/10/2019 10:44 Daily

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Crude oil prices rebounded on Thursday, as OPEC pledges to take a supply decision for next year this December. Trade talks between U.S. and China to be held next week also lent support to prices. Hence, Brent crude rose by 1.3% to 59.10 a barrel, while WTI futures climbed by 1.8% on a daily basis to end at $53.55 a barrel.

UK wholesale gas prices were stronger on Thursday amid rising oil prices. NBP spot jumped by 9.1% to 22.15 p/therm, while the November 2020 delivery contract traded 1.6% higher at 42.55 p/therm.

 

European day-ahead electricity prices extended losses for the fourth consecutive day on Thursday, on weaker demand and higher renewables output. The price for the German day-ahead power contract plunged by 14.7% to 25.97 EUR/MWh. Meanwhile, the equivalent French contract price tumbled by 20.5% to 27.90 EUR/MWh ahead of the weekend.

 

Forward electricity prices  rose slightly on Thursday, tracking higher gas and carbon prices. The German power contract for delivery in 2020 edged 0.3% higher at 46.96 EUR/MWh. In the meantime, the equivalent French contract rose by 1% to 49.93 EUR/MWh.

 

EU carbon prices stretched gains on Thursday due to signs of progress in Brexit talks between the UK and Ireland. The price for the 2021-expiry contract hiked by 2.5% to 23.80 EUR/tonne.

Daily (12.11.2019): French spot power price surged by over 16% on forecasts for higher demand amid colder weather

12/11/2019 11:17:00

Oil prices dropped on Monday due to a lack of direction in the U.S- China trade negotiations. Hence, Brent crude closed 0.5% lower at $62.18 a barrel, while WTI futures fell by 0.7% to $56.86 a barrel.

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Mongolia exports 32.3 million tons of coal as of first ten months

12/11/2019 10:35:00

Mongolia planned to export 42 million tons of coal in 2019. According to statistics of Mongolian General Customs Administration, Mongolia has exported 32.3 million tons of coal as of first ten months of 2019 which means there is a necessity to export 9.7 tons of coal in order to reach the goal. But the People’s Republic of China appears to maintain its coal import at 200-300 million tons so that the amount of coal export has a tendency to slow down in the last months of 2019 according to Bloomberg.

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NTT to spend 600 billion yen on own grids for power business

12/11/2019 10:25:00

Nippon Telegraph and Telephone has decided to build its own power grids. Japan's largest telecom company plans, beginning in the year ending March 2021, to sell electricity from storage batteries at its roughly 7,300 office buildings around the country, mainly to hospitals and factories.

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