Daily (15.09.2020): European carbon prices rallied at their highest levels in a fortnight amid emergence of the European Commission’s 2030 plan

15/09/2020 09:59 Daily


Crude oil futures traded in a narrow range to end slightly lower on Monday as the global demand outlook remains uncertain and Libya announced a possible output resumption. However, a storm which halted the crude production in the U.S. Gulf of Mexico region tempered losses. Hence, Brent crude slipped by 22 cents, or 0.6%, to settle at $39.61 a barrel, while U.S. WTI crude futures were down 7 cents, or 0.2%, to end at $37.26 a barrel.

Stronger carbon prices above €30 supported all British gas contracts at the beginning of the week. As a result, NBP spot rose by 0.3% to 27.85 p/therm, while the front-month contract soared by 2.2% to 28.38 p/therm. Further on the curve, the gas price for year-ahead delivery added 1.5% to 37.03 p/therm.

European spot electricity prices skyrocketed to a near 21-month high on Monday, with the German day-ahead power rallying at 70.20 EUR/MWh, propelled by weaker wind energy generation forecasts. At the same time, the French day-ahead power jumped at 72.76 EUR/MWh amid nuclear concerns in France.

Year-ahead power prices moved upwards, tracking strong carbon prices. As a result, the German Cal’21 power soared by 3% to 42.87 EUR/MWh, while the equivalent power contract in France surged by 2.7% to 48.78 EUR/MWh.

European carbon prices hit their strongest levels in a fortnight on Monday to surpass the €30-threshold after the European Commission proposed to raise the bloc’s climate targets for 2030. Thus, EUAs expiring in 2021 ended at 30.77 EUR/tonne, notching a 7.7% rally day-on-day.

The Electrification Of UK Offshore Oil & Gas

21/09/2020 08:26:00

The British government has set a goal to reach net zero emissions by 2050. Electrification of oil and gas platforms on the UK continental shelf (UKCS) should play an important role in efforts to achieve this target, as a Rystad Energy analysis shows that UK oil and gas production will remain significant for decades to come. After a small decline over the next several years, output forecast to rebound to approximately 2 million barrels of oil equivalent per day by around 2035. UK emissions from oil and gas production in the North Sea are the highest among the region’s producers, reaching 13.1 million tonnes of CO2 in 2019, according to Rystad Energy emission data. Extraction emissions account for 10.1 million tonnes of CO2, with flaring making up the rest.


Daily (18.09.2020): European carbon prices fell by more than 5% on Thursday due to stronger selling

18/09/2020 14:15:00

Oil prices rose for the third consecutive day on Thursday, following OPEC’s meeting which had a positive influence on market. However, oil market is still kept under pressure, due to higher supply and flagging demand. Hence, Brent crude soared by nearly 2.6% to $43.30 a barrel. While the American WTI crude gained 2% to settle at $40.97 a barrel.


Nuclear essential to hydrogen future

18/09/2020 08:50:00

Untapped options for clean hydrogen - including the use of advanced modular reactors - can put the world back on the pathway to meeting the Paris climate goals, according to a new report from energy research and consultancy firm LucidCatalyst. The report says the clean energy transition from oil to hydrogen-based fuels could be achieved with a global investment of USD17 trillion, spent over 30 years from 2020 to 2050.