Daily (21.01.2021): Oil prices edged higher on Wednesday with the inauguration of the 46th US President

21/01/2021 10:46 Daily


On Wednesday, Joe Biden was sworn in as the 46th President of the United States. His climate change policies raised hopes for restricted U.S. crude supply, thus lending support to crude oil prices. As such, Brent oil edged 0.3% higher at $56.08 a barrel, while WTI crude gained 0.6% to $53.31 a barrel.

British near-term gas prices lost ground on Wednesday, weighed by a healthy supply. At the same time, forecasts for colder weather in February helped limit losses. As such, the front-month NBP gas contract slipped by 0.6% to 57.44 p/therm. Contracts on the curve were also bearish yesterday, despite a slight increase in oil prices. NBP Cal’22 gas contract traded 0.4% lower at 44.21 p/therm.


European day-ahead power prices slumped on Wednesday, weighed by high wind generation and mild weather conditions. Moreover, an increase in French nuclear availability also put pressure on prices. Consequently, the German spot power price tumbled by 17.1% to 30.07 EUR/MWh and its French counterpart dropped by 15.3% to 41.60 EUR/MWh.


Contracts on the curve ended higher, despite weaker carbon prices. As such, the German and French Cal’22 power contracts traded 1.2% higher at 50.19 EUR/MWh and 51.46 EUR/MWh respectively.


Carbon EUAs edged lower on Wednesday amid a volatile energy market. Trading data revealed a drop in long-term positions yesterday. As a result, the CO2 contract expiring in December 2022 lost 0.5% to close at 33.12 EUR/tonne.

Daily (22.02.2021): Crude oil prices fell by 2% on Friday amid profit-taking and resumption of US crude supply

22/02/2021 10:39:00

Crude oil prices lost ground on Friday, weighed by profit-taking after breaking new records in more than a year. Furthermore, investors anticipated a partial recovery of crude production in the United States. As a result, Brent oil ended 1.6% lower at $62.91 a barrel, while WTI crude lost 2.1% to settle at $59.24 a barrel.


Average prices rise in French large-scale solar tender, 452 MWp awarded

22/02/2021 08:38:00

The French government has allocated 452 MWp of capacity in its latest tender for utility-scale solar projects in which the average price rose by 4.7% from the previous call.


Israel to link Leviathan gas field to Egypt LNG plants

22/02/2021 08:35:00

The Israeli and Egyptian energy ministers have agreed to build a pipeline to connect Israel’s offshore Leviathan natural gas field to liquefied natural gas (LNG) terminals in northern Egypt, the Israeli minister said on Sunday.