Macro & Oil Report : Lower interest rates for better or worse?
Macro & Oil Report: Lower interest rates for better or worse? Macro & Oil #121 Rates fall sharply in the US, but caution in the…
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Supported by forecasts of a wind shortage and the record clean fuel costs, the European power spot prices climbed above 120€/MWh for today to reach 128.12€/MWh on average in Germany, France, Belgium and the Netherlands, +15.82€/MWh from Friday.
The EUA prices set a new intradray record at 62.45€/t on Friday as the tight situation of the gas market drove the European carbon prices further up while the reduced auction supply due to the large volumes withheld by the MSR continued to provide support to the market. A late retreat of the energy complex and the traders taking their profits ahead of the weekend however pushed the emissions prices slightly down at the end of the session and the EUA Dec.21 contract eventually settled at 61.32€/t, – 20 cent from the day prior but nonetheless with a 2.23€/t weekly gain (+3.9%).
The power curve prices posted slight gains over the last session of the week tracking the upward moves of the gas and carbon markets and their late reversal.