Daily (27.09.2019): European carbon prices jumped by 1.7% on Thursday amidst bullish technical signs

27/09/2019 11:13 Daily

news

Crude oil prices were mixed on Thursday. Brent crude inched up by 0.6% to $62.74 a barrel, following Donald Trump’s affirmation that a deal between China and U.S. could happen sooner than expected. Meanwhile, sluggish economic data in major European economies and Japan, as well as a faster-than-anticipated recovery of Saudi output after the recent attacks sent WTI futures 0.1% down at $56.41 a barrel on Thursday.

British gas prices were mixed on Thursday. NBP day-ahead price decreased by 1.2% to 24.70 p/therm, due to oversupply. On the curve, prices strengthened backed by the increase in carbon prices, which could result in higher gas burn, and outages affecting Norwegian flows. Hence, the contract price for delivery in Q1 2020 rose by 1% to 53.21 p/therm.

 

European spot power prices were bearish on Thursday. The price for the German day-ahead power contract fell by 7.5% to 38.44 EUR/MWh amidst rising wind power supply. At the same time, the equivalent French contract settled 5.3% lower at 37.24 EUR/MWh, due to steady nuclear availability and lower demand.

 

Meanwhile, higher gas and carbon prices lent support to forward electricity prices on Thursday. The price for the German power contract for delivery in 2020 edged 0.3% higher at 48.64 EUR/MWh. The equivalent French contract remained almost flat at 51.12 EUR/MWh.

 

EU carbon prices reversed trend posting gains on Thursday amid bullish technical indicators. The contract expiring in 2021 rose by 1.7% to 26.29 EUR/tonne.

Romania’s largest gas provider set to embrace renewables

21/05/2020 09:40:00

Romgaz is reportedly planning to invest in solar, wind, geothermal and biogas power projects by tendering for consultants.

<READ MORE

Siemens Gamesa reveals ‘world’s biggest wind turbine’

21/05/2020 09:36:00

Siemens Gamesa has revealed what it claims is the world’s biggest wind turbine, a 14MW offshore Direct Drive turbine boasting a 222-metre rotor.

READ MORE

Russia's Nord Stream 2 loses court case against new EU gas rules

21/05/2020 09:30:00

Russia's Nord Stream 2 gas link developer has lost its court case against changes that apply EU gas market rules to the EU section of offshore links with non-EU countries.

READ MORE