Natural gas price advances as autumn arrives
US gas price takes little note of strong output and a slip in consumption.
US gas price takes little note of strong output and a slip in consumption.
With hydroplants running at full capacity and nuclear plants on seasonally maintenance shutdowns, renewables surpass nuclear in US energy generation.
Natural gas continues to advance as heat wave in Southern US increases demand for air-conditioning. Thermal coal prices in China rise as port inventories drop and utilities seek to restock ahead of summer heat.
Crude up on lower dollar, refinery outage. Bank of America Merrill Lynch warns that Brent crude could hit US$160/bbl in 2012.
EU proposes CO2 tax on fuels for sectors outside of the EU ETS. TEPCO LNG imports in March hit record. Richard Bay FOB thermal coal trading at US$2/t premium to FOB Newcastle.
Oil hit by Goldman Sachs research note, news that Saudi Arabia cut production by 500,000bpd due to tepid demand. Asian steel producers looking to substitute thermal coal for coking coal in innovative joint venture.
US natural gas futures hit a three week low after fourth consecutive day of losses. LNG firm expects Japanese LNG demand to rise 10%. Premium on Dec13 EUAs drops by 4.3%.
Natural gas prices up on cold weather, EUAs and CERs advance marginally ahead of EU verified emissions data release on Friday.
Oil receives further support from events in Bahrain, drop in US oil product inventories. US natural gas prices relatively unchanged. Dec11 EUA contract rises to €17.25/t.
Protests in Bahrain draw oil traders’ attention away from Japan, Chinese coal imports fall sharply in February. EUAs and CERs rise dramatically on three month suspension of German nuclear life-time extension programme.
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