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 (21.02.2020): German spot power down 15% on Thursday due to higher wind output, lower demand

21/02/2020 10:13:00

Crude oil futures edged higher on Thursday after an EIA report showed U.S. crude inventories rose less than expected last week. However, gains were capped by worries about the outbreak of coronavirus outside China.

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Total, PTTEP win onshore exploration concession Block 12 in Oman

21/02/2020 09:35:00

Total and Thailand-based PTT Exploration and Production Public Company (PTTEP) have won the rights to Block 12, a nearly 10,000km2 onshore exploration concession in Oman.

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Offshore wind in 'record' 5.2GW global surge

21/02/2020 09:31:00

Last year set a new record for offshore wind installations with 5.2GW of capacity entering into operations globally, according to a new report by World Forum Offshore Wind (WFO).

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