Daily (18.12.2019): Crude oil prices settled higher for a fourth straight day on Tuesday after “phase one” of the U.S.-China deal

18/12/2019 13:18 Daily


Crude oil futures settled higher for the fourth day in a row on Tuesday, spurred by Friday’s announcement of a “phase one” trade agreement between the United States and China, deal aimed to increase oil demand in 2020.

Brent crude for February delivery advanced 76 cents, or 1.2%, to settle at $66.10 a barrel on ICE London. The January WTI contract gained 73 cents, or 1.2%, ending at $60.94 per barrel.

British gas prices boosted on Tuesday, buoyed by an undersupplied system due to weaker LNG deliveries and  stronger demand for power generation. NBP spot rose by 2.2% to 33.00 p/therm.


Further along the curve, prices also were bullish.  The January 2020 delivery contract gained 6% at 37.56 p/therm. At the same time, the price for Summer 2020 delivery surged by 4.4% to 33.85 p/therm.


European spot power prices ended on a mixed note on Tuesday. The German contract traded 9.5% higher at 40.20 EUR/MWh, on forecasts for reduced power generation from wind turbines. However, the equivalent French contract lost 1.7% to trade at 41.93 EUR/MWh, amid stable nuclear availability.


Along the forward curve, contracts gained ground on Tuesday, tracking a bullish energy complex. German power for year-ahead delivery firmed 1.3% at 43.24 EUR/MWh, while the French equivalent contract closed 1.4% higher at 45.82 EUR/MWh.


Carbon prices continued their upward trend for the second straight day on Tuesday, hitting a 7-week high as the year-end auction pause started, with the technical buying built on the previous’ day sharp increase.  EUAs for 2020 expiry soared by 4.2% to 26.07 EUR/tonne.

Daily (02.07.2020): EUAs soared briefly above the €28-level on Wednesday, to hit 11-month highs amid speculative buying

02/07/2020 09:26:00

Crude oil futures gained ground on Wednesday amid a massive drawdown in U.S. crude stockpiles, suggesting that demand is improving. However, the surge in new coronavirus cases limited the market’s upside. Hence, Brent crude for September delivery rose by 88 cents, or 2.1%, to settle at 42.03 a barrel. At the same time, U.S. WTI crude gained 55 cents, or 1.4%, to end at $39.82 per barrel.


Statkraft to begin operations at hydropower plant in Albania

02/07/2020 09:16:00

Renewable energy generating company Statkraft announced this week that its Moglice hydropower plant in Albania will began commercial operations, delivering renewable power to the Albanian grid.


Daily (01.07.2020): The German Cal ’21 power at its highest level since the end of February, driven by economic optimism, higher carbon and coal prices

01/07/2020 09:48:00

Oil prices reversed previous gains on Tuesday as Libya prepares to resume crude exports, intensifying concerns over a possible oversupply on the market. Hence, Brent crude for August delivery, which expired yesterday, fell by 56 cents, or 1.2%, to settle at $41.15. The more-active September contract lost 58 cents at $41.27 a barrel. At the same time, U.S. WTI crude dropped by 43 cents, or 1%, to end at $39.27 a barrel. However, for the month, Brent and WTI gained 16.5% and 12.4% respectively.