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


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.


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.


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.