Daily (08.08.2019): Oil prices plummeted by over 4.5% on Wednesday, due to a buildup in U.S crudes stockpiles and China-U.S. trade war

08/08/2019 11:21 Daily


Oil prices decreased on Wednesday reaching a seven-month low, following a surprise accumulation in U.S. crude stockpiles. Moreover, worries that oil demand will shrink due to China – U.S. escalating trade war also put pressure on prices. Hence, Brent crude fell by 4.6% to $56.23 a barrel, while WTI futures traded 4.7% lower at $51.09 a barrel

Increased exports through the InterconnectorUK to Europe left the system undersupplied, bolstering British wholesale gas prices on Wednesday. Consequently, NBP spot soared by 9.8% to 26.90 p/therm. Meanwhile, lower oil prices limited gains on the curve. The contract for delivery in Mar 2020 advanced by 0.4% to 52.58 p/therm.


European spot power prices tumbled on Wednesday. The price for the German day-ahead power contract plunged by 15.1% to 34.72 EUR/MWh, on rising forecasts for wind power supply. Meanwhile, the equivalent French contract settled 8.5% lower at 33.39 EUR/MWh, on a tighter supply and smaller nuclear power availability.


Forward electricity prices were also bearish, tracking lower carbon prices. The price for the German power contract for delivery in 2020 edged 0.8% lower at 50.23 EUR/MWh, while the equivalent French contract settled 0.5% lower at 51.90 EUR/MWh.


EU carbon prices continued to decline on Wednesday, on weaker daily actvity but ahead of a month of reduced supply. As a result, the 2019-expiry contract closed 0.5% lower at 28.28 EUR/tonne.


‘Hydrogen is the rockstar of the energy system’

09/07/2020 09:05:00

The European Commission has pledged to support the installation of at least 6GW of renewable hydrogen electrolysers in the EU by 2024


Vestas wins 166MW Polish order

09/07/2020 09:01:00

Two projects will comprise 48 V126-3.45MW turbines


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.