Crude dips on stronger dollar, renewed doubt over QE II, natural gas records gains courtesy of forecasts of colder weather and a slightly lower than expected injection into storage. EUAs drop on lower German baseload power, but CERs record heavier losses.
US crude inventories surge, but market impact cushioned by large draw down in gasoline stocks, higher oil product demand. Natural gas drops as buying interest evaporates, EUAs and CERS make small gains.
Crude ends four-day rally on stronger dollar, expectations of large crude inventory build. Natural gas prices rise on bargain buying. Chinese coal prices on the up, heavily cutting into power utilities’ profits. EUAs and CERs drop despite supportive energy complex. Carbon traders spooked by the news that the EU is considering banning CERs from HFC23 destruction projects.
WTI falls back below US$82/bbl, natural gas continues its descent, on mild weather, high inventories. EUAs and CERs up on supportive energy complex.
Oil up on more quantitative easing speculation after G20 meeting. Natural gas finishes previous week down 5.7%. EUAs and CERs rebound despite weak energy complex.
Oil drops 2.4% on stronger dollar, now mounting a slight recovery. Traders waiting result of G20 summit and Federal Reserve meeting in early November. Natural gas falls to 13 month low on high injection in storage. European coal prices up on Australian port disruption fears. EUAs and CERs hit by unsupportive energy complex, high CER issuance.
US inventory data and drop in US dollar trigger crude rally. EUAs and CERs rise marginally on supportive energy complex. South African thermal coal export prices up US$0.8-1.0/t.
Oil rally ends on higher US dollar, poor performance from equities. Natural gas sinks on high inventories, week demand outlook. CERs and EUAs drop on lower Brent crude, German baseload power.
Thursday sees crude drop on EIA report, reduced US crude and oil product demand, now gaining strength on lower dollar, driven by QE speculation. Natural gas falls, on slightly above average injection into storage. Australian and Chinese coal prices rise, encouraging buyers to play the waiting game. EUAs and CERs drop on weak energy complex.
Crude up on dollar, marked rise in Chinese oil imports. Natural gas comes off lows as bargain hunters enter the market. EUAs and CERs drop on gloomy European energy complex.
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08 Feb 2012
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