Energy commodity report: December 13, 2010
Oil up on OPEC quota decision, Japanese utilities increase fuel oil consumption, global coal markets to tighten in 2011, CERs pull EUAs up on ECX changes to 2013 contract, Cancun outcome.
Oil up on OPEC quota decision, Japanese utilities increase fuel oil consumption, global coal markets to tighten in 2011, CERs pull EUAs up on ECX changes to 2013 contract, Cancun outcome.
Oil up on US jobless report, Chinese oil product demand. US natural gas hit by profit taking. EUAs and CERs drop on lower German power, coal, gas.
Crude rises in early Asian trading on weaker dollar, lower outlook for Chinese inflation. US natural gas prices up on cold weather forecasts for the East. Coal drops despite Xstratra declaring force majeure.
Crude and natural gas down on profit-taking. Natural gas hit by revised EIA production forecast. EUAs and CERs drift down on weaker German Power. European coal market undergoes correction.
Crude prices dip on China concerns, upcoming EIA report. US and UK natural gas futures rise on winter demand, as do South African coal prices. EUAs advance again on higher German power, while CERs continue to be hit by high issuance levels.
Crude closes above US$89/bbl, US natural gas falls 1.1% WoW. Australia’s Newcastle port expected to ship 95Mt of thermal coal in 2010. EUAs rise sluggishly on strong European energy complex, CERs drift down on Cancun, higher issuance.
Brent crude moves past US$90/bbl, US natural gas prices rise on cold weather forecasts despite disappointing stockdraw, coal and German power advance, while carbon prices drop despite supportive energy complex.
Oil up on job data, cold snap and increased economic optimism. Japan pays more for LNG while China moves to cap domestic coal prices. EUAs and CERs advance, but less than would be expected by fundamentals.
Oil drops on Euro worries, Chinese liquidity. Natural gas prices fall on forecasts of warmer weather. Australian coal producers push for expansion at Newscastle port. EUAs and CERs drop on lower UK natural gas prices, weaker German power.
Brent crude holding above US$87/bbl, US natural gas prices down 4.3% on profit-taking. Carbon markets hit by CDM Executive Board decision.
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