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

04/08/2020 10:52:00

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.


Shell wraps up acquisition of carbon farming company

04/08/2020 09:42:00

Environmental services company Select Carbon specialises in developing projects which aim to increase carbon capture in plants or soil and reduce Australia’s emissions


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.