Daily (19.06.2020): EUAs broke key technical resistance levels, to trade above €24 on Thursday amid speculator sentiment, bullish auction result

19/06/2020 09:58 Daily


Crude oil futures climbed on Thursday following the OPEC+ monitoring panel meeting that emphasized the critical importance of adhering to full conformity. However, additional coronavirus cases reported in parts of the United States and China added to market jitters. Hence, Brent crude for August delivery soared by 80 cents, or 2%, to settle at $41.51 a barrel. At the same time, U.S. WTI crude settled at $38.84 a barrel, up 88 cents, or 2.3%.

The British day-ahead gas price dropped by 0.7% at 13.90 p/therm on Thursday, weighed by an oversupplied system. On the other side, the front-month gas prices found support from stronger carbon prices, which would further improve the prospect for gas-fired units in the power mix. As a result, the gas price for July delivery surged by 5.2% to 14.03 p/therm. On the curve, the gas price for Q4 2020 delivery jumped by 3.2% to 28.49 p/therm, tacking higher oil prices.

German and French spot electricity prices were on equal footing on Thursday, as prospects for higher renewables generation dragged down contracts by 6%. Hence, the German day-ahead power settled at 29.85 EUR/MWh, while the French equivalent contract stood at 29.86 EUR/MWh.

Year-ahead power prices strengthened, tracking a bullish energy complex. The German Cal’21 power gained 2.3% at 39.52 EUR/MWh, while the similar contract in France inched 1.9% higher at 46.87 EUR/MWh.

EUAs expiring in 2021 traded above their 200-day moving average for the first time since late last year on Thursday, rallying by 7.4% at 24.80 EUR/tonne amid speculative buying and bullish auction result.

Daily (29.07.2020): British gas prices gained ground on Tuesday amid lower Norwegian flows and higher carbon prices

29/07/2020 10:24:00

Crude oil futures ended lower on Tuesday as market players continue to fret over the impact of COVID-19 on energy demand ahead of weekly petroleum supply data expected to show a further rise in U.S. crude inventories. Hence, Brent crude slipped by 19 cents, or 0.4%, to settle at $43.22 a barrel, while U.S. WTI crude futures declined by 56 cents, or 1.4%, to settle at $41.04 a barrel.


UK can have "negative-subsidy" offshore wind online in couple of years

29/07/2020 09:50:00

The UK’s contracts for difference (CfD) auctions in September 2019 will likely bring the world’s first "negative-subsidy" offshore wind farms, according to a study led by Imperial College London (ICL) researchers.


Sweden's Lundin Energy Q2 operating profit lags despite record output

29/07/2020 09:43:00

Swedish oil firm Lundin Energy , a partner in Norway’s giant Johan Sverdrup oilfield, reported on Wednesday a worse-than-expected operating profit, despite producing record output in the quarter.