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 Daily


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.

British near-term gas prices gained ground on Tuesday, buoyed by higher gas-for-power demand. As a result, NBP spot soared by 5% to 15.65 p/therm, while the gas price for August delivery gained 2% at 15.53 p/therm. Further on the curve, the gas price for year-ahead delivery added 0.6% to stand at 35.98 p/therm despite a slight decline in oil prices.

European spot electricity prices rallied to the highest level since more than 5 months on Tuesday, with the German day-ahead power rocketing by over 29% to 41.21 EUR/MWh amid expected lower wind and solar generation in Germany. At the same time, the French day-ahead power jumped by 17.6% to 41.26 EUR/MWh, the highest level since Jan.24 as nuclear availability remained low.

Year-ahead power contracts were on the front foot, tracking higher coal prices. Consequently, the German Cal’21 power inched 0.7% higher at 43.68 EUR/MWh, while the equivalent contract in France rose slightly by 0.3% to 48.24 EUR/MWh.

EUAs retreated on Tuesday after flirting with €30 the previous day, with EUAs expiring in 2021 dropping by 1% to 29.70 EUR/tonne, remaining at their 11-month highs amid speculative buying.

Daily (31.07.2020): WTI crude slipped below $40 a barrel on Thursday amid bearish economic data, political uncertainty in the U.S.

31/07/2020 10:44:00

Crude oil futures posted a steep decline on Thursday, with WTI crude slipping below $40 a barrel for the first time in three weeks, pressured by worries about resurgence in coronavirus cases and bearish U.S. economic data. Suggestions made by U.S. President Donald Trump that nation's November presidential election may be delayed added further pressure on oil prices. Hence, Brent crude decreased by 81 cents, or 1.9%, to settle at $42.94 a barrel. At the same time, U.S. WTI crude futures fell by $1.35, or 3.3%, to end at $39.92 a barrel.


Gazprom Neft joins the international LNG-bunkering community

31/07/2020 09:40:00

Gazprom Neft has become the 1st oil company in Russia to join the Society for Gas as a Marine Fuel (SGMF), through its Gazpromneft Marine Bunker subsidiary Gazpromneft Shipping, operator of the Gazpromneft Marine Bunker fleet.


German wind, solar tenders award 384 MW in July

31/07/2020 09:26:00

Projects with a combined capacity of 384 MW secured surcharges in Germany’s tenders for wind and solar power this month, the Federal Network Agency, also known as the Bundesnetzagetur (BNetzA) has announced.