Daily (05.08.2020): Brent crude hit its highest settlement since early March on Tuesday, driven by the anticipation of a drop in U.S. stocks

05/08/2020 09:17 Daily


Crude oil futures rose for a third straight session on Tuesday, driven by tumbling dollar, hopes of a new economic stimulus package in the U.S. and expectations that U.S. stockpiles drop again. Hence, Brent crude added 28 cents, or 0.6%, to settle at $44.43 a barrel, its highest close since March 6 At the same time, U.S. WTI crude rose by 69 cents, or 1.7%, to end at $41.70, its highest settlement since July 21.

British near-term gas prices extended their rally on Tuesday amid concerns that hot weather may force nuclear reactors to go offline, spurring demand for gas. In this context, the gas price for September 2020 delivery jumped by 8.8% to 32.98 p/therm. Longer-dated contracts were supported by bullish oil markets, with the gas price for year-ahead delivery trading 1.7% higher at 33.31 p/therm.

European spot electricity prices dropped sharply on Tuesday, dragged down by forecasts of stronger renewable energy generation. Thus, the German spot power price plummeted by 18.6% to 29.61 EUR/MWh, while the French equivalent power contract shed by 4.3% to 33.31 EUR/MWh.

Year-ahead power prices edged higher, tracking a bullish energy complex. Consequently, the German Cal’21 power rose by 1.2% to 39.69 EUR/MWh, while the French Cal’21 added 0.8% to 44.41 EUR/MWh.

EUAs expiring in 2021 surged by 2.6% to 27.17 EUR/tonne in thin trade on Tuesday, stimulated by another weak half-volume auction and a bullish energy complex due to a massive explosion in Beirut.

The Electrification Of UK Offshore Oil & Gas

21/09/2020 08:26:00

The British government has set a goal to reach net zero emissions by 2050. Electrification of oil and gas platforms on the UK continental shelf (UKCS) should play an important role in efforts to achieve this target, as a Rystad Energy analysis shows that UK oil and gas production will remain significant for decades to come. After a small decline over the next several years, output forecast to rebound to approximately 2 million barrels of oil equivalent per day by around 2035. UK emissions from oil and gas production in the North Sea are the highest among the region’s producers, reaching 13.1 million tonnes of CO2 in 2019, according to Rystad Energy emission data. Extraction emissions account for 10.1 million tonnes of CO2, with flaring making up the rest.


Daily (18.09.2020): European carbon prices fell by more than 5% on Thursday due to stronger selling

18/09/2020 14:15:00

Oil prices rose for the third consecutive day on Thursday, following OPEC’s meeting which had a positive influence on market. However, oil market is still kept under pressure, due to higher supply and flagging demand. Hence, Brent crude soared by nearly 2.6% to $43.30 a barrel. While the American WTI crude gained 2% to settle at $40.97 a barrel.


Nuclear essential to hydrogen future

18/09/2020 08:50:00

Untapped options for clean hydrogen - including the use of advanced modular reactors - can put the world back on the pathway to meeting the Paris climate goals, according to a new report from energy research and consultancy firm LucidCatalyst. The report says the clean energy transition from oil to hydrogen-based fuels could be achieved with a global investment of USD17 trillion, spent over 30 years from 2020 to 2050.