Daily (18.01.2021): Carbon EUAs plummeted by 5% on Friday, following a bearish energy market

18/01/2021 12:52 Daily

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Crude oil prices retreated on Friday, weighed by global demand concerns amid the coronavirus pandemic. Hence, Brent crude and WTI oil lost 2.3% to close at $55.10 and $52.36 a barrel, respectively.

Prices for British gas ended lower on Friday, weighed by forecasts for milder weather and weaker Asian LNG prices. As such, NBP spot fell by 9.5% to 58.80 p/therm. Contracts on the curve traded downwards following a drop in carbon and oil prices. The gas contract for Q2’21 delivery ended 3.2% lower at 42.58 p/therm.

 

European day-ahead power prices were bearish on Friday amid higher wind generation and forecasts for milder weather. As such, the German spot power price slumped by 23.4% to 55.85 EUR/MWh and its French counterpart tumbled by 20.1% to close at 50.28 EUR/MWh.

 

Front-year power contracts also decreased, due to weaker gas, oil and carbon markets. Consequently, the German Cal’22 power contract lost 3.1% to end at 48.96 EUR/MWh, while the French Cal’22 power contract traded 2.9% lower at 50.28 EUR/MWh.

 

European carbon prices registered a 5% drop on Friday, tracking the bearish sentiment in the wider energy complex. Hence, the CO2 contract expiring in December 2022 ended 5.3% lower at 31.96 EUR/tonne.

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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Germany receives 200 hydrogen project applications in IPCEI call

01/03/2021 08:39:00

Germany's energy ministry has received around 200 hydrogen project proposals seeking funding under the Important Projects of Common European Interest (IPCEI) program, it said Feb. 25.

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