Oil prices continue to advance on pipeline disruption, could be impacted by Portugal’s bond auction later today. Natural gas price up on oil, forecasts of colder weather. Deutsche Bank and Wood Mackenzie upwardly revise coal price projections, due to flooding in Queensland.
Oil pares gains as pipeline expected to return to service shortly, Australian thermal coal prices rise on flooding disruption. EUAs and CERs drop on weak energy complex.
Crude bolstered by Trans-Alaska pipeline closure, natural gas demand in Europe set to rise due to “dash for gas,” Chinese coal prices fall, while those in Indonesia rise. EUAs experience mild correction, while CERs see record volumes.
Oil falls on stronger US dollar, natural gas sees gains prompted by large inventory draw-down countered by more moderate weather forecasts, German baseload power rises, pulling EUAs with it. CERs continue to fall back on issuance concerns.
Oil dips on profit-taking, stronger dollar. US natural gas gains on cold weather. Richards Bay reports marked shift towards the Asian market. EUAs gain on pent-up demand, while CERs hammered by high issuance.
Surprise 9.9Mbbl US crude inventory draw-down provides support for WTI, crude hit by stronger US dollar in early trading. Chinese and Indian demand for South African coal down in November.
Crude down on stronger dollar, bearish US inventory report. US natural gas drops on forecasts of warmer weather. EUAs hit by weak energy complex, CERs rise on HFC23 destruction meeting, still buoyed by Cancun after-glow.
Oil sees fall in buying interest ahead of US oil inventory reports, US natural gas up, but milder weather could be ahead. Coal prices rise due to ongoing supply disruptions. China and Indian coal imports to rise dramatically in 2011. EUAs fail to hang onto Cancun momentum while CERs receive boost from low issuance.
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.
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