Daily (10.12.2020): Interest from investors pushes EUAs near the €30-mark

10/12/2020 10:57 Daily

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Oil prices were pressured on Wednesday by a significant increase in US crude inventories. However, losses were limited amid hopes that the Covid-19 vaccine will boost oil demand. Brent oil ended leveled with Tuesday’s close at $48.86 a barrel, while WTI crude edged 0.2% lower at $45.52 a barrel.

Prices for British gas were bullish on Wednesday, supported by the announcement of maintenance works at 4 Norwegian gas facilities. Despite strong supply and healthy LNG flows, NBP spot edged 0.4% higher at 41.00 p/therm. Contracts on the curve ended higher, supported by a rise in fuel markets. Hence, the gas contract for Summer21 delivery traded 1.5% higher at 33.87 p/therm.

 

Forecasts of improved wind generation in the coming days coupled with milder weather outlook put pressure on European power prices on Wednesday, sending the German spot price down by 7.5% to trade at 69.39 EUR/MWh. At the same time, the French spot power price dropped by 7.6% to close at 70.23 EUR/MWh.

 

Prices for contracts on the curve strengthened following a bullish wider energy complex. The German Cal’21 power contract was up 1.5% on Wednesday, reaching a 5-month high at 43.88 EUR/MWh. The French Cal’21 power contract traded 1% higher at 47.23 EUR/MWh.

 

European carbon prices gained momentum on Wednesday on the back of a record build in investor interest in the market. Still above the €30-mark, the CO2 EUA expiring in December 2022 was 0.5% up at 30.16 EUR/tonne.

Daily (26.02.2021): Brent crude rally take a breather, while U.S. WTI crude ends at its highest since May 2019

26/02/2021 09:49:00

Crude oil prices diverged on Thursday, with Brent crude steadying after a period of optimism amid concerns over OPEC+’s willingness to continue output cuts grow. In contrast, U.S. WTI crude gained ground, spurred by optimism of quickly depleting global oil inventories. Hence, Brent crude lost 0.2% to settle at $66.88 a barrel. Meanwhile, U.S. WTI crude rose by 0.5% to 63.53 a barrel, marking its highest finish since May 2019.

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Portugal sees green hydrogen output by end-2022, $12 billion in investment lined up

26/02/2021 08:59:00

Portugal will start producing green hydrogen by the end of 2022 and already has private investment worth around 10 billion euros ($12 billion) lined up for eight projects that are expected to move forward, Environment Minister Joao Matos Fernandes said.

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Geothermal energy projects in the US receive $46m boost

26/02/2021 08:55:00

A total of 17 projects in the US are receiving up to a total of $46 million (£33m) in funding for domestic, carbon-free geothermal energy, with the potential to supply power to homes across the country.

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