Daily (13.02.2020): EUAs tested the €24-level on Wednesday amid a strong auction in Poland, a bullish energy complex

13/02/2020 11:27 Daily

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Crude oil futures soared on Wednesday as signs that the spread of China’s coronavirus may be easing increased investors’ confidence. Brent crude for April delivery rose by $1.78, or 3.3%, to settle at $55.79 per barrel. U.S. WTI crude gained $1.23, or 2.5%, to close at $51.17.

The British day-ahead gas price increased in mid-week trading due to an undersupplied system. NBP spot firmed by 0.9% at 21.70 p/therm. Along the forward curve, prices moved upwards in tandem with oil prices as fears of coronavirus eased. The gas price for Summer 2020 delivery jumped by 1.6% to 22.93 p/therm, while the gas for year-ahead delivery was traded 2.5% higher at 36.20 p/therm.

 

European spot electricity prices surged on Wednesday, spurred by higher wind output in Germany and stronger consumption in France. German day-ahead power skyrocketed 93% at 37.59 EUR/MWh, while the French equivalent position edged 6.9% higher at 30.44 EUR/MWh.


Year-ahead contracts gained ground on Wednesday tracking higher oil, carbon and coal prices. German Cal’21 power jumped by 2.2% to 42.18 EUR/MWh, while the similar contract in France added 2.3% at 43.65 EUR/MWh.

 

A strong auction in Poland and a bullish energy complex contributed to a rise in carbon prices in mid-week trading, testing the €24-level. EUAs expiring in 2021 firmed by 2.4% at 24.07 EUR/tonne.

Daily (01.04.2020): WTI crude rebounded by about 2% on Tuesday, but outlook remains gloomy

01/04/2020 10:58:00

Oil futures evolved differently on Tuesday, with Brent crude edging lower at $22.74 a barrel, but showed some signs of improvement in early trading after U.S. President Donald Trump and its Russian counterpart Vladimir Putin agreed to talks on stabilizing energy markets. Meanwhile, U.S. WTI crude rose by 1.9% to settle at 20.48 a barrel.

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Turkey's Energy Exchange hits record in spot gas trade

01/04/2020 10:53:00

Turkey's Energy Exchange Istanbul (EXIST) trade volume in spot natural gas market hit Monday a record high for 2020, EXIST data showed on Tuesday.

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Covid-19 crash to speed green shift for oil firms – analysts

01/04/2020 10:50:00

The coronavirus outbreak and accompanying oil price crash – which have seen levels slump to near two-decade lows this week – will hasten a green transition among oil and gas majors, analysts told Montel.

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