Daily (21.01.2019): European carbon prices up by 5% on Brexit hopes and cold weather

21/01/2019 10:46 Daily


Oil prices rose on Friday as China presented a plan aimed at increasing purchases of U.S. goods in order to reduce the trade surplus with the U.S. to zero by 2024. The recent OPEC’s report showing weaker oil output also lent support to prices. However, the continuous trade disputes between the two major economies boosted fears over slower global economic growth and lower demand for fuel. Brent crude traded 2.5% higher at $62.70 a barrel, while WTI futures surged by 3.3% to $53.80 a barrel.

British gas prices fell on Friday due to robust UK Continental Shelf production, Norwegian flows and supply via the BBL pipeline. NBP spot dropped by 1.4% to 60.30 p/therm. Along the forward curve, the NBP contract for delivery in February 2019 was nearly 2% down at 61.79 p/therm.


European spot electricity prices were bearish on Friday due to reduced consumption. Despite colder weather, the German power price for day-ahead delivery slumped by 10.3% to 55.39 p/therm, weighed down by strong wind generation. The equivalent French contract lost 4.2% to close at 63.84 p/therm.


On the curve, electricity prices had an upward trend amid gains in carbon and other fuels markets. The German power contract for delivery in 2020 gained 0.9% to reach 51.51 EUR/MWh. The equivalent French power contract ended 0.8% higher to settle at 54.98 EUR/MWh.


European carbon prices continued the bullish evolution on Friday because of cooler weather and on hopes for positive Brexit developments. The 2020-expiry contract boosted by 5% to 25.33 euros a tonne.


Daily (14.08.2019): Crude oil prices soared by nearly 5% on Tuesday, bolstered by the U.S. tariff delay on Chinese products

14/08/2019 11:46:00

The U.S. announcement on Tuesday about the 10% tariff delay for certain Chinese products spurred the biggest daily percentage gain in crude oil prices since December. Prices were also boosted by an expected decline in the U.S. crude inventories and Saudi Arabia’s firm intention to support OPEC-led supply cuts. Against that bullish background, Brent crude spiked by 4.7% to $61.30 a barrel, while WTI futures surged by 4% to $57.10 a barrel.


Sonnedix to start construction of 171 MW PV plant in Chile

14/08/2019 09:03:00

Independent solar power producer (IPP) Sonnedix announced the start of the construction of a 171 MW PV plant located in the Pica district in the Atacama Desert in Chile.


Rosatom postpones fast reactor project, report says

14/08/2019 08:48:00

Rosenergoatom, the nuclear power plant operator subsidiary of Russian state nuclear corporation Rosatom is expected to receive about RUB280 billion (USD4 billion) less in state funding for the construction of new nuclear reactors in Russia owing to the postponement of its fast neutron reactor programme, Russian newspaper Kommersant reported last week, citing anonymous sources.