Daily (18.02.2020): Carbon prices above the €25-threshold amid a bullish wider energy complex

18/02/2020 10:08 Daily

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Crude oil futures edged higher on Monday as the coronavirus-related demand worries have been offset by output cuts from major oil producers. Brent crude rose by 35 cents, or 0.6% to settle at $57.67 a barrel. U.S WTI crude increased by 0.5% to end at $52.31 a barrel. However, trading volumes were thin due to the U.S. Presidents’ Day holiday.

The British day-ahead gas price firmed on Monday due to an undersupplied system, even if demand was well below the seasonal level.  NBP spot rose by 7.5% to 23.00 p/therm.


Along the forward curve, prices were bullish, tracking gains in oil markets. The gas price for Summer 2020 delivery soared by 5.6% to 24.62 p/therm, while the gas price for year-ahead delivery rallied 2.9% at 38.16 p/therm.

 

European spot power prices gained ground on Monday on expectations for stronger demand in Germany which offset the impact of robust German wind power supply and tighter nuclear availability in France. The German day-ahead power price soared by 7% to 21.87 EUR/MWh, while the French equivalent contract rocketed 18.3% at 26.53 EUR/MWh.

 

Year-ahead power contracts increased on Monday, amid a bullish energy complex. German Cal’21 contract rose by 1.5% to 43.41 EUR/MWh, while the similar contract in France firmed by 1.4% to 44.78 EUR.

 

Gains in the energy complex lifted carbon prices above the €25-threshold on Monday. EUAs expiring in 2021 inched 4.9% up at 25.24 EUR/tonne.

Daily (09.04.2020): WTI crude jumps by over 6% on Wednesday, due to a potential supply cut agreement between OPEC and its allies.

09/04/2020 10:59:00

Crude oil prices added ground on Wednesday, due to a potential supply cut deal this week between OPEC and its allies including Russia. Consequently, Brent crude rose by 3% to $32.84 a barrel. The news that U.S oil output was declining without government’s intervention also supported oil prices. As a result, WTI futures jumped by 6.2% to $25.09 a barrel.

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PGNiG sells first Klaipeda small-scale LNG cargoes

09/04/2020 10:26:00

CRYO Shipping, a Norwegian LNG bunker fuel supplier, purchased both of the cargoes, according to a statement by PGNiG.

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Dutch to meet emissions target due to Covid-19 impact – ING

09/04/2020 10:19:00

The Netherlands is likely to meet its target of cutting carbon emissions by 25% on 1990 levels by year end due to the impact of the coronavirus on industrial output, said Dutch banking group ING on Wednesday.

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