Daily (20.10.2020): Colder weather and stronger LNG prices supported front-month British gas prices at the beginning of the new week

20/10/2020 09:47 Daily


Crude oil futures continued to slip on Monday as the OPEC+ panel has made no new policy proposals from January 2021. Moreover, a resurgence of the coronavirus in Europe and the U.S. threatened to hinder a recovery in demand. Consequently, Brent crude slipped by 31 cents, or 0.7%, to settle at $42.62 a barrel. U.S. WTI crude ended rather flat at $40.83 a barrel.

The gas price for November delivery edged 1.1% higher at 41.40 p/therm on Monday, spurred by forecasts of cooler weather and stronger LNG prices. Along the forward curve, prices followed the same trend, with the gas price for year-ahead delivery rose by 1.3% to 39.07 p/therm, tracking higher carbon prices.

European spot electricity prices tumbled on Monday amid expectations of surging wind power output. Hence, the German day-ahead power dived by 13.6% to 35.22 EUR/MWh, while the French equivalent power contract fell sharply by 6.3% to 39.27 EUR/MWh.

Year-ahead power prices notched modest losses, dragged down by concerns about the impact of the coronavirus pandemic on demand. Thus, the German Cal’21 power was 0.3% lower at 39.88 EUR/MWh, while the similar contract in France lost 0.7%, to end at 44.23 EUR/MWh.

EUAs expiring in 2021 added 0.4% to 25.17 EUR/tonne, but a pessimistic outlook for demand as several countries experience an dramatic rise in the number of Covid-19 infections continued to put pressure on carbon prices.

Daily (25.11.2020): Oil futures surged to 9-month high on Monday amid strong optimism on coronavirus vaccine, transition to Biden presidency

25/11/2020 09:51:00

Crude oil futures climbed to fresh multi-month highs on Tuesday as optimism arising from potential coronavirus vaccines overshadows inventory build-up in the US. The beginning of transition of power in the White House added further support to WTI. Hence, Brent crude surged by $1.80, or 3.9%, to close at $47.86 per barrel. Meanwhile, U.S.WTI crude soared by $1.85, or 4.3%, to finish at $44.91 per barrel. Both contracts reached their highest settlements since March, even returning to levels before the outbreak of the coronavirus pandemic.


UK ranked fifth-best country for renewable deployment

25/11/2020 09:05:00

The US has held its place at the top of the global ranking, while China remains in the second spot, according to EY’s Renewable Energy Country Attractiveness Index


Serbian section of TurkStream extension not ready before spring 2021

25/11/2020 08:59:00

The Serbian section of the TurkStream gas pipeline extension is not expected to be ready until at least spring 2021, missing a previous target for first gas to flow by the end of 2020, industry sources close to the project said.