Daily (12.06.2019): EU carbon prices dropped by almost 1% due to a weaker energy complex

12/06/2019 09:47 Daily

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Oil prices were flat on Tuesday, amid uncertainty regarding the agreement of Saudi Arabia and Russia to extend a crude output-cutting deal. Meanwhile, U.S.-China trade tensions continue to put pressure on demand for crude. As a result, Brent crude remained untraded at $62.29, while WTI futures edged 0.02% higher at $53.27 a barrel.

British gas prices fell on Tuesday, due to strong Norwegian supply. However, cool weather in the UK limited the losses. NBP day-ahead plunged by 3.6% to 29.30 p/therm, while the contract for delivery in Q3 2019 traded 6% lower at 27.85 p/therm.

 

European day-ahead power prices lost ground on Tuesday. The price for the German day-ahead power contract declined by 1.5% to 44.00 EUR/MWh on rising wind output. Meanwhile, the equivalent French contract traded 2.1% lower at 39.48 EUR/MWh, on milder weather outlook.

 

Along the curve, electricity prices nudged down following the bearish performance of gas and carbon prices. The price for the German power contract for delivery in 2020 decreased by 0.4% to 47.89 EUR/MWh, while the equivalent French contract closed 0.4% down at 50.98 EUR/MWh.

 

EU carbon prices lost momentum on Tuesday, amidst a weaker energy complex. The price for the 2019-expiry contract settled 0.9% lower at 24.98 EUR/tonne.

Daily (12.06.2019): EU carbon prices dropped by almost 1% due to a weaker energy complex

12/06/2019 09:47:00

Oil prices were flat on Tuesday, amid uncertainty regarding the agreement of Saudi Arabia and Russia to extend a crude output-cutting deal. Meanwhile, U.S.-China trade tensions continue to put pressure on demand for crude. As a result, Brent crude remained untraded at $62.29, while WTI futures edged 0.02% higher at $53.27 a barrel.

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