Daily (12.06.2018): Carbon prices slumped by 2.1% on Monday on worries about high auction supply

12/06/2018 14:57 Daily

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On Monday, oil prices edged slightly higher on optimism over the U.S. and Korea summit’s aftermath, between Donald Trump and Kim Jonh Un in Singapore.

Brent crude futures was stable at $76.46 per barrel. Meanwhile, U.S. West Texas Intermediate (WTI) crude futures rose by 0.6% to $66.10 a barrel.

Higher Norwegian flows contributed to a decline in most of the contracts along the curve. Q3 2018 delivery contract settled 0.7% down at 53.78 p/therm.

However, the price for day-ahead delivery contract boosted by 0.8% to 56 p/therm on forecasts for cooler weather.

 

European 2019-delivery electricity contracts dropped on Monday, following the downward trend in gas and carbon emission prices. The German year-ahead baseload price fell 1.5% to 41.14 euros/MWh. The French equivalent Cal’19 contract dipped by approximately 1% to close at 45.75 euros/MWh.

 

Forecasts for higher consumption boosted day-ahead power prices. The French spot electricity contract gained 8.43 euros to 48.19 euros/MWh, or a 21.2% increase. Meanwhile, Germany’s baseload contract for Tuesday delivery added 7.26 euros to settle at 49.73 euros/MWh, hiking by 17.1%.

 

Bearish EU carbon prices on Monday were seen at one-week low as traders are concerned about high auction supply and an approaching option expiry date. The carbon contract expiring in 2021 lost 2.1% to end at 16.60 euros a tonne.

 

Daily (19.09.2018): Oil prices gained almost 1.5% on Tuesday, due to concerns over global supply

19/09/2018 13:31:00

Oil crude prices surged on Tuesday, prior to OPEC’s meeting on the possibility to raise production, as Iranian output might decline once U.S. sanctions will take effect from November. However, gains were capped by continuous trade disputes between U.S. and China. Brent crude added 1.3% to close at $79.03 a barrel. WTI crude increased by 1.4% to $69.85 a barrel.

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BW Offshore begins oil production from Tortue field offshore Gabon

19/09/2018 09:01:00

BW Offshore and Panoro Energy have reported first oil production from the Tortue field in the Dussafu license offshore Gabon, using the BW Adolo floating production storage and offloading (FPSO) vessel.

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Orsted offloads 50% of Hornsea 1

19/09/2018 08:54:00

Orsted has sold a 50% stake in its in-construction 1218MW Hornsea 1 offshore wind farm off east England to Global Infrastructure Partners.

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