Daily (22.07.2019): EU carbon prices jumped by almost 4% on Friday, ahead of an approaching heatwave and bullish technical signals

22/07/2019 11:00 Daily


Oil prices increased on Friday, bolstered by the rising tensions in Iran, after U.S. Navy destroyed an Iranian drone in the Strait of Hormuz. As a result, Brent crude climbed by 0.9% to $62.47 a barrel, while WTI futures inched up by 0.6% to $55.63 a barrel.

British forward gas prices added ground on Friday, influenced by an undersupply in the system caused by limited flows from Norway through the Langeled pipeline that were rerouted to continental Europe. As a result, the contract for Q4 19 delivery closed 1.9% up at 48.68 p/therm. Meanwhile, the spot price edged down, due to stronger wind output that curbed demand for gas used for power. Hence, NBP day-ahead price declined by 0.9% to 28.75 p/therm.


European day-ahead power prices plunged on Friday. The price for the German day-ahead power contract tumbled by 21.7% to 35.09 EUR/MWh due to the expectations for higher wind power supply and solar generation. At the same time, the equivalent French contract ended 21.8% lower at 33.14 EUR/MWh, influenced by stable nuclear supply and higher temperatures.


Meanwhile, forward electricity prices recorded gains, tracking higher gas and carbon prices. The price for the German power contract for delivery in 2020 rose by 2.2% to 52.61 EUR/MWh, while the equivalent French contract traded 1.9% higher at 54.36 EUR/MWh.


EU carbon prices added momentum on Friday, ahead of an impending heatwave and bullish technical indicators. As a result, the price for the contract expiring in 2019 increased by 4% to 28.89 EUR/tonne.

Daily (03.07.2020): Brent and WTI settled on Thursday at their highest levels since March amid lower U.S. unemployment rate

03/07/2020 09:49:00

Crude oil futures posted a second consecutive day of gains on Thursday, with Brent and WTI hitting their highest levels since March 6, after a decline in U.S. unemployment rate and a sharp drop in crude stockpiles earlier this week. Hence, Brent crude for September delivery soared by $1.11, or 2.64%, to settle at $43.14 per barrel. At the same time, U.S. WTI crude edged 83 cents higher, or 2.08%, to end at $40.65 per barrel.


RWE wraps up acquisition of Innogy's renewable energy ops

03/07/2020 09:40:00

German energy major RWE AG said on Wednesday that its complex asset-swap with rival E.on SE is now fully completed, creating a massive renewable energy business.


Polish govt agrees offshore wind cooperation with sector players

03/07/2020 09:34:00

The government of Poland and representatives of the offshore wind industry have entered into a letter of intent that outlines their future cooperation in the development of the particular sector.