Daily (01.07.2020): The German Cal ’21 power at its highest level since the end of February, driven by economic optimism, higher carbon and coal prices

01/07/2020 09:48 Daily


Oil prices reversed previous gains on Tuesday as Libya prepares to resume crude exports, intensifying concerns over a possible oversupply on the market. Hence, Brent crude for August delivery, which expired yesterday, fell by 56 cents, or 1.2%, to settle at $41.15. The more-active September contract lost 58 cents at $41.27 a barrel. At the same time, U.S. WTI crude dropped by 43 cents, or 1%, to end at $39.27 a barrel. However, for the month, Brent and WTI gained 16.5% and 12.4% respectively.

British near-term gas prices continued to rise on Tuesday, as cooler temperatures have pushed UK gas demand above seasonal normal. As a result, NBP spot ended 2.7% higher at 15.40 p/therm. Longer-dated contracts declined slightly, with the gas price for Q 4 20 delivery 0.3% lower at 29.69 p/therm, mirroring lower oil prices.

The German spot electricity price increased sharply by 76% to 32.38 EUR/MWh on Tuesday, buoyed by weaker wind power output. Meanwhile, the French equivalent contract gained 2.2% at 35.13 EUR/MWh due to lower nuclear availability.

Year-ahead power prices gained ground, driven by an increased economic optimism and recent gains in carbon and coal prices. The benchmark German Cal ’21 inched 3.1% higher at 41.91 EUR/MWh, its highest level since the end of February. At the same time, the similar contract in France added 2.1% to 48.70 EUR/MWh.

EUAs expiring in 2021 surpassed the €27-mark, hitting the highest level in nine months on Tuesday, driven by more speculative trading and short-covering. As a result, the Dec 21 EUA contract rose by 1.2% to 27.27 EUR/tonne.

Daily (04.08.2020): Oil prices added near 2% on Monday amid upbeat economic data

04/08/2020 10:52:00

Crude oil futures ended higher on Monday after a session start in the red as the rise in production from OPEC+ members came into effect, adding to the virus woes. However, oil prices got a boost from positive manufacturing and industrial data across the United States, Europe, and Asia. Hence, Brent crude soared by 63 cents, or 1.5%, to settle at $44.15 a barrel. U.S. WTI crude rose by 74 cents, or 1.8%, to end at $41.01 a barrel.


Shell wraps up acquisition of carbon farming company

04/08/2020 09:42:00

Environmental services company Select Carbon specialises in developing projects which aim to increase carbon capture in plants or soil and reduce Australia’s emissions


Russia Seeks Additional $1.9 Billion In Taxes From Oil & Gas

04/08/2020 09:33:00

Russia’s finance ministry is looking to raise as much as US$1.93 billion (143 billion Russia rubles) in taxes from the oil industry over the next two years, as the oil price crash has shrunk Russia’s key revenue stream—oil.