Daily (14.01.2021): British front-month gas price slumps by 16% after reaching two-year high

14/01/2021 10:28 Daily


Crude oil prices retreated on Wednesday, feeling the effects of the coronavirus pandemic on global demand. Consequently, Brent oil decreased by 0.9% to close at $56.06 a barrel, while WTI crude edged 0.6% lower at $52.91 a barrel.

British near-term gas prices were bearish yesterday, after reaching two-year highs, weighed by forecasts for milder weather. Despite LNG price and supply concerns, NBP gas for February delivery tumbled by 15.9% to 65.16 p/therm. The front-year gas contract traded 4.3% lower at 43.30 p/therm, mainly due to weaker oil and carbon prices.


On Wednesday, a severe drop in wind generation helped push the German spot power price upwards by 66.2% to 70.58 EUR/MWh. By contrast, the French spot power price closed almost unchanged, only 0.7% lower at 73.33 EUR/MWh.


Electricity contracts on the curve decreased yesterday, following a drop in carbon prices. Germany’s benchmark front-year power contract fell by 2.4%, from a 17-month high, to 50.54 EUR/MWh. The French Cal’22 power contract traded 2.2% lower at 51.90 EUR/MWh.


European carbon prices ended lower on Wednesday, weighed by weaker energy prices and data showing a technical reversal in carbon. As such, the CO2 EUA expiring in December 2021 lost 2.9% to close at 33.65 EUR/tonne.

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.