Daily (19.05.2020): EUAs surpass the €20-mark for the first time this month amid wider markets gains

19/05/2020 11:14 Daily

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Crude oil futures rallied to their highest settlement in more than two months on Monday, driven by historic production cuts, the prospect of demand recovery following countries’ lockdown and revival of their economies, and promising early results from coronavirus vaccine trial. 

Hence, Brent crude for July delivery jumped by $2.31, or 7.1%, to settle at $34.81 a barrel, while U.S. WTI crude surged by $2.39, or 8.1%, to end at $31.82.

 

The British spot gas price increased on Monday, even if the outlook remains bearish due to an oversupplied system. As a result, the NBP spot rose by 3.4% to 12.30 p/therm. On the curve, the gas price for year-ahead delivery gained 0.5% at 33.41 p/therm, buoyed by stronger oil and carbon markets.


European spot electricity prices gained ground at the beginning of a new week, spurred by less wind and solar power outlook in Germany and France. As a result, the German power for year-ahead delivery skyrocketed by 39.7% to 23.69 EUR/MWh, while the equivalent contract in France jumped by 22.6% to 19.61 EUR/MWh.

 

Year-ahead power contracts also increased, driven by a bullish energy complex. Hence, the German Cal’21 power traded 1% higher at 36.87 EUR/MWh, while the similar contract in France added 0.8% at 44.46 EUR/MWh.


EUAs expiring in 2021 soared by 6% to 20.71 EUR/tonne, exceeding the €20- threshold for the first time this month, tracking wider markets gains.

Daily (08.07.2020): German and French spot electricity prices at their highest levels since the end of January amid lower renewables output and nuclear availability

08/07/2020 11:15:00

Crude oil futures were little changed on Tuesday as an apparent optimism that U.S. crude inventories will decline this week was overshadowed by the surge in coronavirus cases in parts of the world which continued to pressure prospects for energy demand. Hence, Brent crude for September delivery steadied at $43.08 a barrel, while the U.S. WTI crude stagnated at $40.62 a barrel.

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08/07/2020 09:36:00

By allowing the usage of anchored vessels, the permit gives Nord Stream 2 more freedom of choice of Russian pipelaying vessels it can use for finalising construction

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