A new all-time price record for CO2 came to be last Friday. Speculation on the carbon market has been affecting electricity prices for several weeks now. Natural gas future prices have remained high due to cool temperatures for the season. The price on the fuel market fluctuated last week.
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During the month of April, electricity prices continued to rise, driven by higher carbon prices. Prices for CO2 emission quotas rose more sharply in April and reached a new milestone at the end of the month. After a fairly stable start to the month, gas prices rose again.
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Electricity rose over the week due to the ECTS compliance deadline. The natural gas market was bullish due to continued cool weather and low storage levels. Strong economic growth in China and rising activity in the United States drove oil prices higher.
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Weekly power prices fall, while futures grow on track with CO2 market trends. The bullishness of the natural gas futures market continues, due to the ongoing cold weather. Encouraging signs of economic recovery in the United States and China led to higher Brent prices last week.
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Markets opened markedly higher than they had been. The recent cold snap triggered a price hike earlier this week on natural gas, before seeing a gradual decrease. The oil market remains on-edge.
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In summer-like weather conditions, the electricity market followed a slightly upward trend. Gas prices for 2022 and 2023 stayed stable while the average weekly price rose. Following an IEA report, and Joe Biden's infrastructure plan, the oil market increased last week.
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