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

04/08/2020 10:52 Daily


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


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


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.