Crude falls back after mild recovery due to stronger US dollar, Northeast US, sees soaring natural gas and power prices due to searing temperatures, Xstrata to sell coal to TEPCO at AUD103/t, EUAs drop back on unsupportive energy complex.
Crude sheds 8.5 per cent over the course of the previous week, sentiment mixed regarding future outlook, Eskom smooths over threat of strike action with pay settlement.
Crude oil hit by manufacturing data, natural gas buoyed up on smaller than expected injection into storage, US power utilities moving back to coal, on high gas prices and large coal inventories, China expected to import 200mst of coal in 2015.
Crude falls again, despite US inventory drawdown, natural gas futures up on warm weather forecasts, EU and South African coal markets see little direction, EUAs up thanks to better outlook for Europe’s banks.
Weakening US consumer confidence, EU liquidity and fears of double-dip recession weigh down energy complex. US coal producers look to China, queues at the port of Newcastle hit three year high.
Crude falls as storm fears recede, South Korean coal imports down, US coal burn up.
Oil down on Gulf of Mexico tropical storm uncertainty, China’s NDRC caps term coal prices, EUAs and CERs rise on Friday on the back of Brent crude.
Crude down on Eurozone concerns, NMYEX natural gas largely shrugs off inventory build, European carbon hit by equity markets, DEC10 CER-EUA spread widens.
Oil hit by IEA report, saved from further declines by better than expected US crude inventory data. Natural gas up on storm concerns, Euro coal prices hold steady, Chinese power plant coal inventories on the rise, EUAs see little direction.
Oil falters due to unexpected US inventory build and drop in equities, natural gas down on weather, profit taking. US power plant coal stockpiles fall.
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