Daily (02.07.2020): EUAs soared briefly above the €28-level on Wednesday, to hit 11-month highs amid speculative buying

02/07/2020 09:26 Daily


Crude oil futures gained ground on Wednesday amid a massive drawdown in U.S. crude stockpiles, suggesting that demand is improving. However, the surge in new coronavirus cases limited the market’s upside. Hence, Brent crude for September delivery rose by 88 cents, or 2.1%, to settle at 42.03 a barrel. At the same time, U.S. WTI crude gained 55 cents, or 1.4%, to end at $39.82 per barrel.

The British day-ahead gas price edged lower in mid-week trading due to lower exports to the continental Europe. As a result, NBP spot fell slightly by 0.3% to 15.35 p/therm. On the curve, the gas price for year-ahead delivery decreased by 0.7% to 34.13 p/therm, shrugging off stronger oil markets.

German and French spot electricity prices increased sharply on Wednesday due to lower wind energy generation and higher demand. Consequently, the German day-ahead price rocketed by 20.2% to 38.91 EUR/MWh, while the French equivalent contract jumped by 10.9% to 38.94 EUR/MWh.

Year-ahead power prices dropped slightly, despite rallying carbon prices. Thus, the German Cal’21 power was rather stable at 41.87 EUR/MWh, while the similar contract in France lost 0.5% at 48.70 EUR/MWh.

EUAs expiring in 2021 surpassed the €28-level for the first time since last August on Wednesday amid continued speculative trading and lower liquidity.

Daily (30.07.2020): European CO2 prices rebounded by nearly 2% on Wednesday tracking a stronger auction in Poland.

30/07/2020 13:19:00

Crude oil prices inched higher on Wednesday, following an unexpected drop in US crude inventories. Consequently, Brent crude rose by 1.2% to $43.75 a barrel, while WTI futures increased by 0.6% to $41.27 a barrel.


Eneco, Shell win Dutch offshore wind tender with 759-MW project

30/07/2020 10:56:00

A joint venture between Dutch utility Eneco and oil and gas major Royal Dutch Shell Plc has won the tender for the third zero-subsidy offshore wind farm in the Dutch North Sea, to be built in the Hollandse Kust Noord zone.


Assembly of world’s largest nuclear fusion reactor begins in France

30/07/2020 10:49:00

A total of 35 nations are currently collaborating to build tokamak, a magnetic fusion device, which aims to demonstrate the real potential of fusion as a large scale carbon-free source of energy