Our market comment section presents samples of the types of content found within our Energy Commodities and Environmental Markets. This content is updated here on a weekly basis.
For more information on our full portfolio of Energy Commodities and Environmental Markets products and services, click here
If you find this content valuable:
- TO REGISTER FOR A FREE TRIAL TO THE FULL PRODUCT, CLICK HERE.
- OR SPEAK TO OUR SALES DEPARTMENT BY TELEPHONE, +44 (0) 207 664 0243
Spread Tracker (18 November 2011)
18 November 2011
Analysis:
The energy complex was mostly down this week, to varying degrees, with the exception of cal-12 API#2 coal, which gained very slightly. Cal-12 German power, cal-12 TFF gas and coal were all characterised by a lack of liquidity, trading within tight ranges. German power’s biggest daily move was 0.6% down from Wednesday to Thursday, to close at €55.20/MWh. Gas also saw tentative moves, losing 1% on Tuesday and 0.8% on Thursday, closing the week-to-Thursday down 2.1% overall, at €25.50/MWh. Coal bucked the trend, albeit on very low volume for the cal-12 contract, inching up 0.5% on Thursday to $117.55/mt.
The clean dark spread was hit by the weaker euro and rising coal prices, losing 2% to close at €10.92/MWh despite cheaper carbon. The clean spark spread was in positive territory at both Wednesday’s and Thursday’s close, finishing at €0.23/MWh on Thursday. That is the first time the clean spark spread has had two consecutive positive closes this year. Continuation of this trend could be enough to kick some life into the calendar contracts in weeks to come.
Sub Menu
