Daily (20.01.2021): Energy prices rebounded on Tuesday amid bullish sentiment on the market

20/01/2021 08:50 Daily


Oil prices gained momentum on Tuesday in line with a weakening dollar, boosted by the prospect of further economic support in the United States. Hence, Brent crude for March delivery rose by $1.15, or 2.1%, to settle at $55.90 a barrel. Meanwhile, U.S. WTI crude settled 62 cents, or 1.18%, higher at $52.98 per barrel.

British near-term gas prices recovered following four days of declines, with NBP for February delivery surging by 5.3% to 57.77 p/therm as a result of strong Asian market. Along the forward curve, the gas price for Summer 2021 delivery jumped by 5.2% to 42.85 p/therm, tracking a bullish commodity market.
Increased wind generation and temperatures above seasonal average dragged down the European spot electricity prices on Tuesday. Consequently, the German day-ahead power plummeted by 19.3% to 36.28 EUR/MWh, while the French equivalent contract settled at 49.13 EUR/MWh, tumbling by 18.7% on a daily basis.

Year-ahead power contracts increased in response to a bullish energy complex. The German Cal’22 power added 1.9% to 49.61 EUR/MWh, while the similar power contract in France ended at 50.85 EUR/MWh, notching a 1.6% gain day-on-day.
European carbon prices jumped back above €33 on Tuesday, snapping a four-day decline amid forecasts of colder temperatures. Thus, EUAs expiring in 2021 rallied by 4.7% to 33.09 EUR/tonne.

Daily (01.03.2021): Oil prices fell on Friday amid strong U.S. dollar, concerns of stronger supply, but notched weekly gains

01/03/2021 11:10:00

Oil prices fell on Friday amid a stronger U.S. dollar and concerns that crude oil supply would rise in response to prices rebounding above pre-pandemic levels. Hence, Brent crude declined by 75 cents, or 1.1%, to settle at $66.13 a barrel. Meanwhile, U.S. WTI crude settled $2.03, or 3.2%, lower at $61.50 per barrel. However, on a weekly basis, Brent surged by 5.1%, while WTI soared by 3.8% and both hiked by 20% in February on supply disruptions in the United States and optimism over demand recovery on the back of COVID-19 vaccination rollout.


Germany receives 200 hydrogen project applications in IPCEI call

01/03/2021 08:39:00

Germany's energy ministry has received around 200 hydrogen project proposals seeking funding under the Important Projects of Common European Interest (IPCEI) program, it said Feb. 25.


Netherlands built Europe’s biggest wind capacity in 2020

01/03/2021 08:32:00

The Netherlands has topped the list of countries with the highest wind capacity installed in 2020.