Daily (24.07.2019): EU carbon prices jumped to their 2006 peak on Tuesday, on supportive bullish signals and an expected heatwave

24/07/2019 11:40 Daily

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Crude oil prices added ground on Tuesday, after data showed a much larger-than-expected fall in the U.S. crude stocks. Meanwhile, weaker demand forecasts and the full restart of Libya’s largest oil field reduced gains. Against that backdrop, Brent crude traded 0.9% higher at $63.83 a barrel, while WTI futures closed 1% up, at $56.77 a barrel. 

UK gas prices rose on Tuesday, amid weaker Norwegian flows. Moreover, higher power consumption for cooling purposes due to the heatwave boosted demand from gas-fired power plants. NBP spot jumped by 6.9% % to 29.40 p/therm. The contract for delivery in Winter 2019 gained 1.2%, ending at 52.82 p/therm.  

 

European day-ahead power prices jumped on Tuesday on forecasts for a heatwave that could boost power demand for cooling. The price for the German spot electricity contract increased by 8.7% to 50.64 EUR/MWh, while the equivalent French contract settled 14.9% higher at 52.93 EUR/MWh. 

 

Forward electricity prices were also in a bullish mood, tracking higher gas and carbon prices. The price for the German power contract for delivery in 2020 rose by 1.5% to 53.47 EUR/MWh, while the equivalent French contract traded 1% up at 55.12 EUR/MWh. 

 

EU carbon prices surged to their 2006 peak on Tuesday, buoyed by hot weather and supportive signals from the daily auctions. A stronger energy complex added to the bullish market sentiment. The price for the 2020-expiry contract spiked by 2.8% to 30.20 EUR/tonne. 

 

Daily (17.09.2019): Oil prices jumped by nearly 15% following the attacks on Saudi oil facilities

17/09/2019 11:00:00

Crude oil prices posted its biggest daily gain in over 30 years, following the attack on Aramco crude facilities which led to a in cut Saudi Arabia’s production and intensified concerns of retaliation in the Middle East. According to the news, Aramco may take months to resume normal output volumes. As a result, Brent crude surged by 14.7% to $69.02 a barrel, while WTI futures hiked by 14.6% to $62.90 a barrel.

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Belgian capacity market will lead to oversupply – Anode

17/09/2019 09:25:00

Belgium’s plans to launch a capacity market could lead to an oversupplied system, which will hurt profitability for new and existing power plants, said Anode Energie portfolio manager Kris Voorspools.

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Ofgem gives conditional nod to 220-MW Scottish interconnector plan

17/09/2019 09:19:00

UK energy regulator Ofgem said today it has given the thumbs-up to the construction of a 220-MW high-voltage transmission line that will connect the Orkney Islands with the Scottish mainland.

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