Daily (14.09.2018): Power and gas markets turned bearish on Thursday, after a 18% decline in carbon prices

14/09/2018 11:08 Daily

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Oil crude prices lost momentum on Thursday, mainly due to investors’ focus on mounting trade tensions between the world’s major economies, the U.S. and China, that could threaten demand. Brent crude ended 2% down at $78.18 a barrel. Meanwhile, WTI crude price tumbled by 2.5% to $68.59 a barrel, despite a larger-than-expected draw in U.S. inventories.

Even though Norwegian flows decreased, UK wholesale gas prices fell on Thursday, as stronger supplies from storage generated a surplus on the market. As a result, NBP spot price dropped sharply by 4.1% to 69.90 p/therm. On the forward curve, Winter 2018 delivery contract was 2.4% lower at 75.81 p/therm.

 

On Thursday, European year-ahead power prices slumped, following the downward trend in carbon and fuels markets. The French contract for 2019 delivery traded 5.7% lower at 58.35 euros/MWh, while German equivalent contract settled 6.2% down at 52.65 euros/MWh.

 

Prompt electricity prices were also bearish, due to higher wind generation in Germany, and increased nuclear availability in France. The German day-ahead price for Friday delivery shed by 9.3% to end at 64.84 euros/MWh. The French equivalent contract lost 6.8% to close at 66.25 euros/MWh. 

 

European carbon prices considerably declined on Thursday in a weak auction, as traders made bearish bets after the recent increase. The 2021-expiry contract price lost 16.6% to end at 20.40 euros a tonne, posting the biggest daily loss since 2006.

Daily (15.11.2018): European year-ahead power prices fell by over 1% on Wednesday, tracking weaker CO2 and coal markets

15/11/2018 11:36:00

Oil prices surged on Wednesday, recovering from recent lows as OPEC partners are focusing on output cuts in order to support the market. Nevertheless, gains were still limited by the escalating trade war between the worlds’ biggest economies — U.S. and China. Both Brent crude and WTI rose 1% to settle at $66.12 and at $56.25 a barrel respectively.

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Bad luck and the spectre of power cuts this winter is back!

15/11/2018 09:01:00

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Spain's power 100% renewable in 2050 as part of draft climate law

15/11/2018 08:50:00

Spain will aim to cut its greenhouse gas (GHG) emissions by 90% by 2050, from 1990 levels, and achieve 100% renewable power that same year, according to a draft of the Climate Change and Energy Transition Law, presented to journalists on Tuesday.

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