Daily (23.08.2019): EU carbon prices fell to an 8-week low on Thursday, weighed down by technical weakness

23/08/2019 10:44 Daily


Crude oil prices inched down on Thursday, due to weaker equity markets and uncertainty over the outlook for U.S. interest rate cuts. Both Brent crude and WTI futures fell by 0.6% to $59.92 and $55.35 a barrel respectively.


British gas prices diverged on Thursday. NBP spot climbed by 2.5% to 28.60 p/therm, due to maintenance works that disturbed imports from Norway. Meanwhile, prices on the forward curve dropped, due to robust supply and a drop in oil prices. The contract price for delivery in Q1 2020 declined by 1.4% to 51.70 p/therm.


European prompt power prices were mixed on Thursday. The price for the German day-ahead power contract rose by 2.8% to 37.32 EUR/MWh, as wind volumes are set to fall.  At the same time, the equivalent French contract settled 6% lower at 31.31 EUR/MWh, on rising nuclear availability.


Meanwhile, forward electricity prices were rather constant amid a bearish energy complex. The price for the German power contract for delivery in 2020 closed at 48.32 EUR/MWh, while the equivalent French contract settled at 49.89 EUR/MWh.


EU carbon prices fell to an 8-week low on Thursday, pressured by technical weakness. Therefore, the contract expiring in 2020 decreased by 1.4% to 25.93 EUR/tonne.


Daily (04.08.2020): Oil prices added near 2% on Monday amid upbeat economic data

04/08/2020 10:52:00

Crude oil futures ended higher on Monday after a session start in the red as the rise in production from OPEC+ members came into effect, adding to the virus woes. However, oil prices got a boost from positive manufacturing and industrial data across the United States, Europe, and Asia. Hence, Brent crude soared by 63 cents, or 1.5%, to settle at $44.15 a barrel. U.S. WTI crude rose by 74 cents, or 1.8%, to end at $41.01 a barrel.


Shell wraps up acquisition of carbon farming company

04/08/2020 09:42:00

Environmental services company Select Carbon specialises in developing projects which aim to increase carbon capture in plants or soil and reduce Australia’s emissions


Russia Seeks Additional $1.9 Billion In Taxes From Oil & Gas

04/08/2020 09:33:00

Russia’s finance ministry is looking to raise as much as US$1.93 billion (143 billion Russia rubles) in taxes from the oil industry over the next two years, as the oil price crash has shrunk Russia’s key revenue stream—oil.