Daily (20.11.2020): UK forward gas prices lost around 4% on Thursday due to low demand and strong supply

20/11/2020 10:34 Daily

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Oil prices ended slightly down on Thursday, in the face of the worsening Covid-19 epidemic, but also due to tensions over quotas within OPEC+. Hence, Brent crude slipped by 0.3% to settle at $44.20 per barrel. U.S. WTI crude lost 0.2% to close at $41.74 per barrel.

British near-term gas prices fell on Thursday, driven by mild weather, improved LNG send-outs and weak demand for power. Consequently, NBP spot declined by 1.4% to 36.50 p/therm. Further along the curve, the gas price for year-ahead delivery shed by 3.8% to 34.64 p/therm, tracking the bearish evolution of carbon and oil markets.


European spot electricity prices jumped on Thursday as forecasts indicated a shift to colder weather, lifting heating demand. Falling wind generation offered additional support to the spot prices. As a result, the German spot power price rocketed by 64% to 43.26 EUR/MWh, while the French equivalent power contract hiked by 32% to 44.38 EUR/MWh.


Year-ahead power prices lost ground, tracking a bearish energy complex. Thus, the German Cal’21 power decreased by 2% to 39.09 EUR/MWh, while the similar contract in France settled at 42.47 EUR/MWh, posting a 1.9% decline day-on-day.


EUAs expiring in 2021 dropped by 3% to 26.49 EUR/tonne on Thursday, retreating from the prior session’s two-month high amid technical selling and profit-taking, as well as worries about weaker fundamentals, policy disputes, and COVID-19.

EU approves German coal phase-out tender mechanism

26/11/2020 08:42:00

The European Commission today said Germany's coal phase-out tender mechanism to compensate operators for early closures promotes climate objectives and is in line with state-aid rules. But it said it will investigate the mechanism for closing lignite-fired plants.

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Daily (26.11.2020): European power prices soared on Wednesday amid colder weather outlook and lower wind generation

26/11/2020 10:33:00

Crude prices hit an eight-month high on Wednesday, supported by a drop in US oil stocks, progress on the coronavirus vaccine and optimism ahead of the next OPEC+ summit. As such, Brent crude rose by 1.6% to $48.61 a barrel, while WTI oil ended 1.8% higher at $45.71 a barrel.

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EU approves German coal phase-out tender mechanism

26/11/2020 08:42:00

The European Commission today said Germany's coal phase-out tender mechanism to compensate operators for early closures promotes climate objectives and is in line with state-aid rules. But it said it will investigate the mechanism for closing lignite-fired plants.

READ MORE