CO2 virtually flat

Oil prices are coming down on Tuesday after trading above USD 73/bbl earlier in the session on the back of buying interest from funds, analysts said. The front month contract for Brent North Sea crude oil was last seen traded at USD 71.20/bbl, up 21 cents day on day. The price reached USD 73.50/bbl earlier in the session however, on the back of buying interest from funds, said analysts.
The market is awaiting a string of economic indicators to be released this week, including US employment data on Thursday, as well as inventory data later on Tuesday and Wednesday.
“Better than expected data this week could help propel crude prices to the USD 75/bbl area,” said analysts at Sucden Financial Research. Others were more cautious and pointed to a weak demand picture. (Source: Miontell Power News)

Economic risks
“The global economy remains exposed to considerable risks and we feel that too much optimism is currently being priced into the oil market,” said analysts at Germany’s HSH Norbank in a report.
“Consequently there is a strong likelihood of another correction in oil prices in the near future,” it added.

Coal prices in the API 2 window had come under pressure, with the 2010 contract dropping USD 1.75 day on day to trade at USD 85.75/t, according to one broker.
The market had taken direction from oil prices, which came down from earlier highs, said one trader.
"Fundamentally coal is very weak," added the trader, pointing to low demand in Europe and increasing stock levels.

In the UK, within-day gas prices gained 1p day on day with a trade seen at 26p/th.

In the market for EUA allowances, the Dec 09 contract was last seen changing hands at EUR 13.33/t, virtually flat day on day.