EU annual power benchmarks surged as carbon EUAs rallied to record highs. Recovering LNG imports and stable weather weighed on gas prices in the EU. Stronger oil prices mostly driven by ongoing output cuts from major producers.
Europe
Moderate temperatures and mild forecasts increase power demand, carbon prices, while pressuring gas pricing downward. Poland sees first EUA auction with prices settling at a premium. Oil pushes higher, nearing $60 per barrel as vaccine rollout continues.
United Kingdom
CO2 price (Dec-21) increased by 3,32 EUR/t WoW to level 37,27 EUR/t. Today growing trend continues and price is hitting the record high 38,5 EUR/t. Brent price (Apr21) increased by 3,74 USD/bbl WoW to 58,84 USD/bbl and today price continues in growth hitting 59,7 USD/bbl level.
Czech Republic & Slovak
Electricity fell due to tightened lockdowns, corona mutations, and vaccine delivery bottlenecks. All other markets - Gas, CO2, Oil, and Coal moved up slightly due to numerous factors including cold snaps, and import demand recovery.
Germany
US natural gas inventories decreased by 192 Bcf for the week ending January 29, compared with the five-year (2016–2020) average net withdrawal of 146 Bcf.
United States
Electricity, Gas, CO2, and Oil rose due to colder temperature forecasts, unexpected maintenance work in Norway, and a correction in oil price demand. Coal prices fall with under pressure of low gas prices, and high CO2 prices.
Germany