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 (13.11.2019): British spot gas price spiked by 6.5% on Tuesday on higher gas-for-power demand

13/11/2019 11:31:00

Oil prices nudged down on Tuesday on no new details after Donald Trump’s speech about the China-U.S. trade negotiations Meanwhile, concerns regarding slower economic growth and weaker oil demand still kept prices under pressure. Brent crude fell by 0.2% to $62.06 a barrel, while WTI futures edged 0.1% lower at $56.80 a barrel.

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France's EDF says no damage found so far at Cruas nuclear plant after earthquake

13/11/2019 09:08:00

Checks carried out by French utility EDF at its Cruas nuclear power plant have revealed no anomalies so far, a company executive said on Tuesday, after it extended outages at three of the facility’s reactors until Nov. 15.

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E.ON to purchase 3TWh of clean energy annually from RWE Renewables

13/11/2019 09:05:00

Global energy company E.ON has signed an agreement to purchase clean energy from RWE Renewables’ British windfarms.

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