Daily (13.08.2019): European carbon prices slumped by over 5% on Monday amid a weaker auction

13/08/2019 10:05 Daily

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Oil prices remained bullish on Monday, on expectations for deeper cuts of global oil supplies that might counterbalance the slowing growth of global crude demand driven by the U.S.-China trade dispute. Brent crude traded 0.1% up at $58.57 a barrel. At the same time, the ongoing tensions between the U.S. and Iran, along with a weakening dollar, pushed the WTI futures 0.8% higher at $54.93 a barrel.

Firmer supply from Norway and stronger output from UK Continental Shelf weighed on UK forward gas prices on Monday. The contract for delivery in Winter 2019 settled 2.2% lower at 49.28 p/therm. Meanwhile, short-term forecasts for reduced wind generation raised gas-for-power demand, with NBP spot price climbing by 1.4% to 29.60 p/therm.

 

The European day-ahead power prices skyrocketed on Monday, in a correction move after the Sunday’s plunge into negative territory due to strong wind output. Moreover, rising temperatures in the region boosted demand for cooling. The price for the German spot power contract soared by 206.8% to 38.04 EUR/MWh. The price for the equivalent French contract spiked by 139.8% to 33.65 EUR/MWh, on more support from an outage at Chinon 1 reactor, which was provisionally extended to August 14.

 

Along the curve, electricity prices extended losses, tracking weaker gas and coal contracts, as well as the fall in carbon prices. The German power contract for delivery in 2020 ended 2.1% lower at 49.30 EUR/MWh, while the price for the equivalent French contract dropped by 1.7% to 51.55 EUR/MWh.

 

EU carbon prices plunged to a one-month low amid a bearish auction on Monday, while cheaper fuel contracts kept prices under pressure. As a result, the price for the 2019-expiry contract slumped by 5.1% to 26.70 EUR/tonne.

Daily (20.03.2020): Oil prices regained ground on Thursday after significant declines, supported by stimulus measures

20/03/2020 11:02:00

Crude oil futures rebounded on Thursday, buoyed by supportive measures from centrals banks and governments to combat the economic fallout from the coronavirus pandemic .Moreover, Trump administration reportedly said it may intervene in the oil-price war between Saudi Arabia and Russia. However, analysts consider the climb more symbolic, rather than a clear signal that prices are ready for a sustained rebound.

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Total buys French onshore wind developer with 1-GW portfolio

20/03/2020 10:03:00

Total Quadran, the French renewable power production unit of Total SA, has taken over Global Wind Power (GWP) France, which holds an onshore wind project portfolio amounting to 1,000 MW.

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German front-month power hits 18-year low on virus crisis

20/03/2020 09:59:00

The German April power contract traded at the lowest for a front month in 18 years amid continued worries that the spread of the coronavirus will further erode demand.

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