Daily (06.07.2020) NBP spot plunged by almost 5% on Friday influenced by an upward revision of the French nuclear output.

06/07/2020 10:40 Daily


Crude oil prices lost momentum on Friday, on renewed fears over global fuel demand as U.S reported a surge in coronavirus cases. Nevertheless, signs of improving global economy and OPEC+ record high supply cuts limited the loss. As a result, Brent crude decreased by 0.8% to $42.80 a barrel. Similarly, WTI futures traded 1% lower at $40.24 a barrel.

The NBP spot price fell by 4.8% to 13.80 p/therm on Friday, impacted by the upward revision of EDF’s nuclear output for 2020. Meanwhile, on the curve, most of the UK gas contracts were bullish, tracking a rise in carbon prices. Hence, the Winter 2020 delivery contract traded 1.2% higher at 33.64 p/therm.


European spot power prices lost ground on Friday. The German spot power price tumbled by 55.9% to 15.40 EUR/MWh, due to a sharp rise in electricity output from wind turbines. Similarly, the French day-ahead power price plunged by 40.2% to 21.88 EUR/MWh following an increase in nuclear output.


On the curve, the German power contract for delivery in 2020 was almost flat at 41.75 EUR/MWh on uncertainty over the direction of the energy market. Meanwhile, a 3% decrease was noticed in the equivalent French power contract, which traded at 46.00 EUR/MWh, as EDF increased its target for nuclear output for 2020.


EU carbon prices inched higher on Friday, amidst speculative buying. Despite bearish fundamentals, the price for the 2021-expiry contract closed at 28.21 EUR/tonne, compared to 27.66 EUR/tonne on Tuesday.


Russia Seeks Additional $1.9 Billion In Taxes From Oil & Gas

04/08/2020 09:33:00

Russia’s finance ministry is looking to raise as much as US$1.93 billion (143 billion Russia rubles) in taxes from the oil industry over the next two years, as the oil price crash has shrunk Russia’s key revenue stream—oil.


Nordex to sell 2.7GW European renewables portfolio to RWE for over €400m

04/08/2020 09:21:00

From the overall pipeline, about 1.9GW is present in France in various project phases


Daily (03.08.2020): NBP spot climbed by 5% on Friday, due to higher gas-for-power demand

03/08/2020 11:10:00

Crude oil prices inched higher on Friday, stimulated by a weaker dollar and record high oil supply cuts by US in May. Consequently, Brent crude rose by 1.2% to $43.75 a barrel, while WTI futures increased by 0.6% to $41.27 a barrel.