Oil up on weaker dollar, reduced Eurozone debt fears. Natural gas weakens slightly, as US inventories hit new record thanks to small injection into storage. Coal up on positive fundamentals, while carbon price rise thanks to higher German power and successful EUA auction by The Netherlands.
US inventory drawn down coupled with weaker US dollar and health Asian stock markets, provide boost to crude. NYMEX natural gas up on inventory speculation, forecasts of colder weather, prompt coal prices undergo correction. German baseload power for 2011 drops on cheaper hard coal, fails to drag down previously oversold EUAs and CERs.
Crude continues falling on euro debt worries and expectations of tighter Chinese monetary policy. API report clashes with Dow Jones Poll on US oil inventories. US natural gas futures falling on mild weather, prompt coal prices soaring. EUAs and CERS take a battering on negative energy complex.
Oil down on Eurozone debt fears, US natural gas up on retail sales data, prompt coal prices up on Asian and European demand, carbon prices rise on German power and positive fuel movements.
Oil prices start to recover from Friday’s losses thanks to higher than expected Japanese 3Q10 GDP growth. Coal prices rising on higher demand, heavy rains in Australia, Indonesia and Colombia. CERS hit by HFC23 project credit issurance, EUAs rise on higher power, positive fuel movements.
Crude drops on renewed European debt fears, speculation over tightening Chinese monetary policy. US natural gas continued to be hit by record inventories, but losses capped by cold weather forecasts. Thermal coal prices rise on Asian demand while EUAs and CERs advance on German baseload power gains.
Oil rises on Chinese industrial output, US crude inventory draw down. Natural gas gives up its gains as stockpiles hit a new record. Coal prices advance on stronger Asian demand. EUAs and CERs rise on higher German power, but gains capped by unfavourable fuel price movements, EU plans to reassess role of UN credits in EU ETS, if the 30% is goal adopted.
Oil retreats slightly after hitting a fresh high on Tuesday, thanks to lower Chinese imports, drop in Asian stocks. Natural gas turns a corner on expectations of cold weather across US demand centres. South Korea and Russia to sign preliminary gas deal. CERs and EUAs up on German power.
Crude briefly hits US$87.49/bbl in early Asian trade, before retreating. CERs advance strongly on Friday, as bullish sentiment returns. CERs follow, despite unsupportive energy complex. Analysts at JPMorgan upwardly revise oil forecasts for 2011, in response to QEII.
Crude oil still up on QEII, gains pared back slightly ahead of US employment report. Natural gas up slightly despite above average inventory build, European coal prices snap rally, undergo mild correction. EUAs and CERs hit by poorly performing UK auction, lower German baseload power and concerns over future of industrial gas projects.
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