Daily (14.11.2019): EUAs rebounded by 1% on Wednesday, amidst a lack of auction supply and positive economic data

14/11/2019 11:45 Daily


Crude oil prices inched higher on Wednesday, stimulated by upbeat economic comments from Jerome Powell, the Chair of Federal Reserve. A drop in U.S. crude stocks and a positive outlook on oil markets from OPEC also supported prices. On this background, WTI futures rose by 0.6% to $57.12 a barrel, while Brent crude edged 0.5% higher at $62.37 a barrel.

A rise in Norwegian flows via the Langeled pipeline and plenty of LNG supplies led to an oversupplied system, weighing on British wholesale gas prices on Wednesday. As a result, NBP spot fell by 1.4% to 38.50 p/therm. On the curve, the contract price for delivery in Q1 2020 declined by 0.3% to 43.10 p/therm.


European spot power prices fell on Wednesday as milder weather forecasts curbed demand. The German day-ahead power price dropped by 3.7% to 45.32 euros/MWh. The French spot power price fell by 6% to 53.08 euros/MWh.


On the curve, higher CO2 prices pushed the German Cal2020 delivery contract 0.2% up at 45.56 euros/MWh. However, the French equivalent contract ended 0.1% lower at 48.03 euros/MWh, amid weaker gas prices.


EU carbon prices recorded gains on Wednesday, due to weaker auction supply and optimistic economic data. The contract expiring in 2019 ended 1.1% higher at 24.39 EUR/tonne.

Daily (05.12.2019): Oil prices skyrocketed about 4% on Wednesday ahead of the OPEC meeting

05/12/2019 10:41:00

Crude oil prices skyrocketed on Wednesday, buoyed by hopes of deeper production cuts from OPEC and its allies and following a larger-than-expected drop in U.S. stockpiles. Brent crude soared by 3.6% to settle at $63 a barrel. WTI crude gained 4.2%, closing at $58.43 a barrel. It was its third straight day of gains, and its best day since September.


France's EDF extends Cruas 2 nuclear reactor outage to Saturday

05/12/2019 09:13:00

French utility EDF on Wednesday extended the outage at its 900 MW Cruas 2 nuclear reactor by two days until Saturday, adding that resumption of power generation could be delayed by ongoing safety checks following an earthquake.


Total to supply LNG fuel to CMA CGM vessels for 10 years

05/12/2019 09:09:00

French energy major Total and compatriot shipping company CMA CGM have signed an agreement for the supply of approximately 270,000 tonnes of LNG per year over ten years.