Daily (02.06.2020): The British spot gas dived by 5.6% on Monday after the resumption of Russian flows

02/06/2020 09:18 Daily


Crude oil futures diverged on Monday, with Brent crude for August delivery surging by 8.5% to close at $38.32 a barrel amid hopes that OPEC+ producers will meet this week, earlier than previously planned, to discuss about a further extension of output cuts.  Meanwhile, U.S. WTI crude was rather stable at $35.49 a barrel, but under the effect of increasingly hostile relations between the United States and China.

A healthy supply after the resumption of Russian flows via the Yamal-Europe pipeline and warmer weather forecasts for this summer continued to weigh on British gas prices on Monday. Hence, the NBP spot dived by 5.6% to 8.50 p/therm.  On the curve, the gas price for year-ahead delivery shed by 1.6% to 31.66 p/therm. 

Low renewables generation at the start of the week supported day-ahead electricity prices in Europe. As a result, the German day-ahead power price skyrocketed at 28.34 EUR/MWh, while the price for the equivalent contract in France jumped to 20.32 EUR/MWh. 

Year-ahead power prices lost ground on Monday, tracking weaker carbon prices. The German Cal’21 power price declined by 1.4% to 36.61 EUR/MWh, while the French similar contract dropped by 1.2% to 44.64 EUR/MWh. 

EUAs expiring in 2021 fell by 2% to 21.33 EUR/tonne in a thin trading activity on Monday amid a public holiday across Europe and due to market jitters about worsening U.S.-China relations.

Daily (08.07.2020): German and French spot electricity prices at their highest levels since the end of January amid lower renewables output and nuclear availability

08/07/2020 11:15:00

Crude oil futures were little changed on Tuesday as an apparent optimism that U.S. crude inventories will decline this week was overshadowed by the surge in coronavirus cases in parts of the world which continued to pressure prospects for energy demand. Hence, Brent crude for September delivery steadied at $43.08 a barrel, while the U.S. WTI crude stagnated at $40.62 a barrel.


Denmark allows Nord Stream 2 to complete pipeline hit by US sanctions

08/07/2020 09:36:00

By allowing the usage of anchored vessels, the permit gives Nord Stream 2 more freedom of choice of Russian pipelaying vessels it can use for finalising construction


Simply Blue seeks to survey area for up to 1-GW Celtic Sea wind farm

08/07/2020 09:32:00

Simply Blue Energy is seeking permission to conduct survey activities near the Kinsale gas platform in the Celtic Sea for a potential offshore wind project of 988 MW that will be using the Windfloat platform.