Daily (15.01.2020): U.S. WTI crude ended at its highest level in 11 months on Thursday amid stimulus optimism

15/01/2021 09:11 Daily

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Crude oil futures gained ground on Thursday, with U.S. WTI crude hitting its highest level since February of last year, buoyed by the continuing COVID-19 vaccine rollout and hopes that a new U.S. coronavirus relief plan could boost oil demand.

 

Hence, Brent crude rose by 36 cents, or 0.6%, to settle at $56.42 a barrel on ICE Futures Europe. U.S. oil benchmark increased by 66 cents, or 1.3%, to close at $53.57 a barrel on the New York Mercantile Exchange.

British near-term gas prices extended losses on Thursday, with NBP for February delivery trading 3% lower at 63.15 p/therm as forecasts pointed towards a period of milder and windier weather towards the end of January, easing demand levels.

 

Along the forward curve, the gas price for Summer 2021 delivery declined by 0.9% to 42.80 p/therm, mainly as a result of weaker carbon prices.

 

European spot electricity prices diverged on Thursday, with the German day-ahead power trading 3.3% higher at 72.89 EUR/MWh amid cold weather condition. In contrast, the French equivalent power contract declined by 1.4% to 72.32 EUR/MWh amid stronger renewable generation.

 

Year-ahead power prices were little changed to bearish amid lower carbon prices. The German Cal’22 power steadied at 50.53 EUR/MWh, while the similar contract in France ended rather flat at 51.80 EUR/MWh.

 

EUAs expiring in 2021 slipped by 0.4% to 33.53 EUR/tonne, driven by the gas pullback from highs seen earlier this week.

ENA brings more flexibility to the grid with contract update

02/03/2021 08:53:00

The Energy Networks Association (ENA) has updated its standardised flexibility contract used across the energy sector to offer more transparency and increase accessibility.

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French Feb nuclear falls to record low as maintenance season starts early

02/03/2021 08:47:00

Average French nuclear generation fell to a record low in February of 45 GW, down 5.5% on the year, grid operator data showed March 1.

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Daily (01.03.2021): Oil prices fell on Friday amid strong U.S. dollar, concerns of stronger supply, but notched weekly gains

01/03/2021 11:10:00

Oil prices fell on Friday amid a stronger U.S. dollar and concerns that crude oil supply would rise in response to prices rebounding above pre-pandemic levels. Hence, Brent crude declined by 75 cents, or 1.1%, to settle at $66.13 a barrel. Meanwhile, U.S. WTI crude settled $2.03, or 3.2%, lower at $61.50 per barrel. However, on a weekly basis, Brent surged by 5.1%, while WTI soared by 3.8% and both hiked by 20% in February on supply disruptions in the United States and optimism over demand recovery on the back of COVID-19 vaccination rollout.

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