Daily (09.06.2020): European spot electricity prices returned at pre-lockdown levels on Monday amid higher demand, lower renewables and nuclear output

09/06/2020 10:15 Daily


Crude oil futures lost ground on Monday despite OPEC+ cuts as traders switched their focus on the announce that top producer Saudi Arabia and Gulf producers are not willing to extend cuts after June. Hence, Brent crude for August delivery fell by $1.50, or 3.6%, to settle at $40.80 a barrel. At the same time, U.S. WTI crude shed by $1.36, or 3.4%, to end at $38.19 a barrel.

The British day-ahead gas price had no clear direction at the beginning of the week as it oscillated between an ample supply and hopes of economic recovery. As a result, the NBP spot settled at 13.00 p/therm, flat compared with Friday’s settlement. On the contrary, the gas price for July 2020 delivery dived by 8% to 12.76 p/therm, hit by an oversupplied system. Longer-dated contracts decreased on Monday, with the gas price for year-ahead delivery 1.5% down at 32.77 p/therm, tracking weaker oil prices.

Electricity spot prices in Europe increased sharply on Monday, to reach pre-lockdown levels. Consequently, the German day-ahead power price rocketed at 36.68 EUR/MWh, its highest level in nearly three months amid an expected increased demand and lower solar energy generation in Germany. The price for the equivalent French power contract rallied at 29.89 EUR/MWh, hitting a three-month high due to lower nuclear availability in France.

Year-ahead power contracts strengthened despite a bearish energy complex, with the French Cal’21 power edging 0.8% higher at 47.07 EUR/MWh. Meanwhile, the German Cal’21 power rose slightly to 39.51 EUR/MWh.

EUAs expiring in 2021 decreased by 2.3% to 23.05 EUR/tonne on Monday amid robust auction supply and negative sentiment due to lower fuels prices. As a result, EUAs expiring in 2020 shed by 2.3% to 22.71 EUR/tonne.

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.