Daily (09.12.2020): Oil prices ended rather steady on Tuesday as surging COVID-19 cases dampened other positive news

09/12/2020 09:05 Daily


Crude oil futures posted little changes on Tuesday as the potential for expanded lockdown measures countered news about the beginning of vaccination programs across Western economies this week and EIA’s forecast of higher oil prices in 2021.


Hence, Brent crude added 0.1% to end rather flat at $48.84 a barrel. Meanwhile, WTI crude settled at $45.60 a barrel, posting a 0.4% loss day-on-day.


Forecasts of milder temperatures sent NBP spot 1% lower at 40.85 p/therm on Tuesday. Along the forward curve, the gas price for Q2 21 delivery lost 0.3% to 34.42 p/therm, tracking lower carbon prices.


European spot electricity prices rallied on Tuesday as renewables generation was set to fall well below normal. Consequently, the German day-ahead power price jumped by 22.8% to 75.03 EUR/MWh, while the French equivalent power contract ended at 76.03 EUR/MWh, notching a 13.9% hike on a daily basis.


Year-ahead power prices lost little ground, tracking lower carbon prices. The German year-ahead power contract slipped by 0.4% to trade at 43.24 EUR/MWh, while the similar contract in France ended at 46.77 EUR/MWh, declining by 0.3% day-on-day.


EUAs expiring in 2021 lost 0.2% to trade at 29.77 EUR/t on Tuesday despite progress on a Brexit trade deal, while carbon traders braced for the expiry of the Dec-20 options contracts.

Daily (04.03.2021): Growing volumes of LNG supply pushed British gas prices lower on Wednesday

04/03/2021 10:27:00

Oil prices surged on Wednesday, supported by decreasing gasoline reserves in the United States and anticipation for the OPEC+ summit on Thursday. As such, Brent oil increased by 2.2% to $64.07 a barrel and WTI crude soared by 2.6% to $61.28 a barrel.


UK's hydrogen future could involve both blue and green pathways

04/03/2021 08:45:00

The UK's hydrogen future could involve a mix of both blue and green production pathways, but it needs to get started or risk falling behind, panelists said March 3.


China ‘installed half of new global offshore wind capacity in 2020’

04/03/2021 08:43:00

China accounted for half of all new global offshore wind capacity in 2020.