Daily (18.12.2020): EUAs at around 32€ highs on Thursday due to tighter EU climate targets and short-auction supply

18/12/2020 10:08 Daily


Crude oil prices continued their upward trend on Thursday, spurred by a larger-than-expected U.S. crude stockpile draw and by optimism about a coronavirus relief package in the United States and record-breaking refining demand in China and India. Hence, Brent crude rose by 42 cents, or 0.8%, to end at $51.50 a barrel. Meanwhile, WTI crude settled 54 cents, or 1.1%, higher at $48.36 per barrel. Both contracts closed again at nine-month highs.

A healthy supply due to mild weather put pressure on British near-term gas prices on Thursday. As a result, NBP spot decreased by 3.6% to 43.75 p/therm. Along the forward curve, the gas price for year-ahead delivery fell by 2.4% to 40.50 p/therm, shrugging off bullish oil and gas markets.

European spot electricity prices plummeted on Thursday due to above average temperatures for this time of year and stronger wind generation outlook. Thus, the German day-ahead power price shed by 4.6% to 42.51 EUR/MWh, while the French equivalent contract settled at 48.28 EUR/MWh, posting a 11.9% slump day-on-day.

Year-ahead power prices lost ground in tandem with weaker gas prices. The German Cal’21 power declined by 1.8% to 45.25 EUR/MWh, while the similar contract in France closed at 48.75 EUR/MWh, notching a 1.52% loss on a daily basis.

EUAs expiring in 2021 edged 0.6% higher at 31.96 EUR/tonne, buoyed by short auction supply and tighter EU climate targets.

Daily (03.03.2021): Oil prices tumbled to two-week lows on Tuesday amid expectations that OPEC will boost output

03/03/2021 10:37:00

Crude oil prices remained on the back-foot for the fourth consecutive day on Tuesday amid expectations that OPEC+ producers will ease supply curbs at their meeting later this week as the global oil demand shows signs of recovery from the coronavirus pandemic. Hence, Brent crude dropped by 99 cents, or 1.6%, to settle at $62.70 a barrel, its lowest close since Feb. 12. U.S. WTI crude fell by 89 cents, or 1.5%, to $59.75, its lowest settlement since Feb. 19.


Brussels opens in-depth investigation into Germany’s coal phase-out plan

03/03/2021 09:10:00

The German Bundestag sealed an agreement in June last year to compensate RWE and LEAG with €4.35 billion for closing the country’s last remaining coal plants and mining operations by 2038.


Global CO2 emissions rising again after nearly 6% fall last year

03/03/2021 09:07:00

Global carbon dioxide emissions dropped by 5.8% in 2020 as the COVID-19 pandemic slowed economic activity, but they rebounded at the end of the year and are on course to rise further, the International Energy Agency said on Tuesday.