Daily (15.10.2020): Crude oil prices rose by 2% on Wednesday driven by a weaker US dollar

15/10/2020 14:15 Daily

news

Crude oil saw a second session of rising prices supported by a slight decline in the US dollar. Both Brent and WTI crude climbed by 2.1% to trade at $43.32 and $41.04 a barrel respectively.

The British spot gas price rose on Wednesday as gas-for-power demand increased due to weaker renewables generation, while Norwegian gas supply fell slightly. Consequently, NBP spot surged by 2.0% to close at 38.75 p/therm. Gas prices on the curve also increased as crude oil prices strengthened. For instance, the contract for Q1 2021 delivery jumped by 1.6% to trade at 41.59 p/therm.

 

European power prices rebounded from previous losses on Wednesday, on forecasted colder temperatures and France facing the risk of power shortages in the winter.

 

The German spot power price jumped 14.8% to settle at 40.94 EUR/MWh and its French counterpart ended 1.7% higher at 44.03 EUR/MWh. On the curve, front-year power contracts increased slightly following a rise in CO2 prices. As a result, the German Cal’21 power price edged 0.6% higher at 40.48 EUR/MWh and the French Cal’21 contract traded 0.9% higher at 44.89 EUR/MWh.

 

European carbon prices rebounded on Wednesday, amid dip-buying, short-covering and optimism surrounding Brexit trade talks, as well as positive weather forecasts. Hence, EUAs expiring in December 2020 jumped by 2.1% to trade at 25.75 EUR/tonne.

Daily (28.10.2020): British near-term gas prices hit one-week low on Tuesday amid a less cold weather, strong wind power generation

28/10/2020 09:02:00

Oil futures rebounded on Tuesday after the Tropical Storm Zeta slashed considerably the energy output in the Gulf of Mexico, while worries about the impact on demand from the ongoing surging globally in COVID-19 cases continue to weigh on the market. Hence, Brent crude for December delivery rose by 74 cents, or 1.8%, to end at $41.20 a barrel. At the same time, U.S. WTI crude for December delivery soared by $1.01, or 2.6%, to settle at $39.57 a barrel.

<READ MORE

German solar output at record high

28/10/2020 08:49:00

German solar PV plants have already generated more electricity in 2020 than in any previous year, supported by an increase in capacity.

READ MORE

Fluxys consults on expansion of Belgian-Dutch VIP

28/10/2020 08:41:00

Belgian system operator Fluxys has launched a consultation on its planned expansion of the Belgian-Dutch virtual interconnection point (VIP Bene) to include the physical Zelzate 2 border connection, where the Zebra pipeline delivers to the Netherlands.

READ MORE