Daily (08.05.2020): German Cal’21 power contract bounced by 1.3% on Thursday in tandem with stronger coal, carbon prices

08/05/2020 10:40 Daily


Crude oil futures declined on Thursday amid doubts about the ability of oil giants to comply with their production quotas in an attempt to stabilize the market. Moreover, worries about economic recession, sluggish demand and oversupply eclipsed a rebound in Saudi Arabia’s official crude selling and an unexpected rise in Chinese exports last month.

Consequently, Brent futures lost 26 cents, or 0.9%, to settle at $29.46 a barrel, while U.S. WTI crude decreased by 44 cents, or 1.8%, to settle at $23.55.

The British day-ahead gas price turned bullish on Thursday, with NBP spot 4% higher at 14.30 p/therm due to lower temperatures forecast and weaker Norwegian imports. On the curve, the gas price for year-ahead delivery soared by 1.7% to 32.47 p/therm, tracking previous gains in oil prices.

European spot power prices slipped on Thursday amid expectations for lower demand. Hence, the German day-ahead gas price declined slightly by 0.2% to 23.78 EUR/MWh, while the price for the equivalent contract in France tumbled by 5% to trade at 19.38 EUR/MWh.


Year-ahead power contracts increased on Thursday, tracking gains in carbon and coal markets. Therefore, the German Cal’21 power contract bounced by 1.3% to 36.62 EUR/MWh, while the similar power contract in France advanced by 1.5% to stand at 43.74 EUR/MWh.

EUAs expiring in 2021 climbed by 2.7% to 19.91 EUR/tonne amid higher auction demand and bullish economic data in China.

Daily (08.07.2020): German and French spot electricity prices at their highest levels since the end of January amid lower renewables output and nuclear availability

08/07/2020 11:15:00

Crude oil futures were little changed on Tuesday as an apparent optimism that U.S. crude inventories will decline this week was overshadowed by the surge in coronavirus cases in parts of the world which continued to pressure prospects for energy demand. Hence, Brent crude for September delivery steadied at $43.08 a barrel, while the U.S. WTI crude stagnated at $40.62 a barrel.


Denmark allows Nord Stream 2 to complete pipeline hit by US sanctions

08/07/2020 09:36:00

By allowing the usage of anchored vessels, the permit gives Nord Stream 2 more freedom of choice of Russian pipelaying vessels it can use for finalising construction


Simply Blue seeks to survey area for up to 1-GW Celtic Sea wind farm

08/07/2020 09:32:00

Simply Blue Energy is seeking permission to conduct survey activities near the Kinsale gas platform in the Celtic Sea for a potential offshore wind project of 988 MW that will be using the Windfloat platform.