Daily (29.03.2019): EU Carbon Prices Up by Nearly 2% on Thursday

29/03/2019 10:45 Daily


Oil prices ended close to an equilibrium on Thursday after initially dropping in the wake of a new call from US President Donald Trump for an increase in OPEC’s production in order to bring rising prices down. Brent crude was almost steady at $67.82 a barrel, while WTI futures slipped by 0.2 % to $59.30 a barrel, as losses were capped by constant support from OPEC-led supply cuts and U.S. sanctions on Venezuelan and Iranian exports.

Thursday saw a decline in the UK gas prices, driven by short-term forecasts for slightly milder weather and expected robust LNG supplies. Bearish coal prices also weighed on prices. The contract price for delivery in June 2019 spiked by 2.8% to 34.98 p/therm. Meanwhile, NBP spot was 0.9% down at 37.10 p/therm, as lower Norwegian flows limited a further decrease.


European day-ahead electricity prices lost ground on Thursday, due to a weaker demand caused by rising temperatures ahead of the weekend. Stronger power generation from renewable sources put more pressure on prices. The German spot power price slumped by 5.8% to 39.85 EUR/MWh. In the meantime, the price for the equivalent French contract fell by 2.8% to 39.34 EUR/MWh.


Along the forward curve, power prices posted modest gains on Thursday, influenced by higher carbon prices. The price for the German power contract for delivery in 2020 added 0.3% to close at 47.43 EUR/MWh. The equivalent French contract edged up by 0.4% at 50.62 EUR/MWh.


European carbon prices extended their winning streak into a fourth consecutive day, reaching again the €22 level, lifted by a supportive technical backdrop and a bullish outlook. The price for the 2020-expiry contract increased by 1.9% to 22.58 EUR/tonne.


Daily (12.07.2019): British forward gas prices rose by over 3% on Thursday due to a bullish energy complex and higher weekly oil prices

12/07/2019 11:28:00

Daily (12.07.2019): British forward gas prices rose by over 3% on Thursday due to a bullish energy complex and higher weekly oil prices


Turkish Stream Pipeline is Almost Finished, Gazprom Says

12/07/2019 08:59:00

Last week Russian state-owned gas giant Gazprom invited bank analysts on a trip to inspect the construction work on the Turkish Stream (aka TurkStream) pipeline. They report work on the pipeline is on schedule and that it is 90% complete and should go online before the end of the year.


Poles pick GE for 220MW Potegowo party

12/07/2019 08:56:00

GE Renewable Energy is to provide turbines for the 220MW Potegowo wind farm in northern Poland.