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

04/08/2020 10:52 Daily

news

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.

Stronger generation demand and lower wind power output propelled British gas contracts to multi-months highs at the begging of the week. In this context, NBP spot rallied by 15.7% at 15.50 p/therm. At the same time, the gas price for Q4 20 delivery edged 3.9% higher at 28.09 p/therm, spurred by bullish oil markets.


German and French spot electricity prices increased sharply on Monday amid forecasts of higher demand. Consequently, the German day-ahead power rocketed by 29% to 36.39 EUR/MWh, while the French equivalent contract jumped by 6.1% to 34.81 EUR/MWh.


Differently, year-ahead power contracts lost little ground, tracking lower carbon prices. Thus, the German Cal’21 power slipped by 0.4% to 39.22 EUR/MWh, while the similar French contract lost 0.6%, to settle at 44.04 EUR/MWh.


EUAs expiring in 2021 declined slightly by 0.6%, to end at 26.48 EUR/tonne amid lower auction volume.

Daily (17.09.2020): An unexpected drop in US crude inventories boosted WTI crude by 5% on Wednesday

17/09/2020 13:33:00

Daily (17.09.2020): An unexpected drop in US crude inventories boosted WTI crude by 5% on Wednesday

<READ MORE

Vattenfall repowers Dutch community wind farm

17/09/2020 09:18:00

38MW Jaap Rodenburg will host 10 turbines two of which will be owned by Almeerse Wind

READ MORE

European geothermal sector joins call for carbon price on heating and cooling

17/09/2020 08:58:00

The European Geothermal Energy Council is advocating for a carbon price to be put on heating and cooling in the European Union. Only with a fair price for all forms of energy and the real cost attached will it be able to reach the ambitions carbon neutral goal by 2050.

READ MORE