Daily (21.08.2020): UK gas prices posted strong weekly gains due to higher LNG and U.S. gas prices

21/08/2020 09:55 Daily


Crude oil futures lost ground on Thursday, pressured by downbeat comments from the U.S. Fed and OPEC+ on the demand outlook due to the coronavirus, while U.S. unemployment claims unexpectedly rose last week. Hence, Brent crude fell by 47 cents, or 1%, to settle at $44.90 a barrel. At the same time, U.S. WTI crude ended the session 11 cents, or 0.3%, lower at $42.82 a barrel.

British near-term gas prices broke their upward trend on Thursday, dragged down by weaker LNG and U.S. gas prices. As a result, NBP spot shed by 3.5% to 20.50 p/therm, while the gas price for September delivery decreased by 1.8% to 22.58 p/therm. On the curve, the gas price for Q4 2020 delivery lost 0.6% to end at 32.69 p/therm, tracking bearish oil and carbon markets.

Stronger wind output forecasts and nuclear availably put pressure on German and French spot electricity prices on Thursday. In this context, the German day-ahead power fell sharply by 16.5% to 31.81 EUR/MWh, while the French equivalent contract plummeted by 12.9% to 32.91 EUR/MWh.

Year-ahead power prices retreated on Thursday in line with weaker carbon and gas prices. Thus, the German and French Cal’21 power contracts declined by 0.4% to settle at 39.85 EUR/MWh and 44.93 EUR/MWh respectively.

EUAs expiring in 2021 decreased by 1.2% to 26.24 EUR/tonne on Thursday amid a bearish auction result and wider macroeconomic worries.

Daily (15.10.2020): Crude oil prices rose by 2% on Wednesday driven by a weaker US dollar

15/10/2020 14:15:00

Crude oil saw a second session of rising prices supported by a slight decline in the US dollar. Both Brent and WTI crude climbed by 2.1% to trade at $43.32 and $41.04 a barrel respectively.


Global CO2 emissions show biggest ever drop in first half of 2020

15/10/2020 09:30:00

Global carbon dioxide emissions fell by 8.8% in the first six months of this year, the biggest drop for a first half-year period, due to the effects of coronavius-related restrictions, a study showed on Wednesday.


UK companies call on government to support nuclear in COVID recovery

15/10/2020 09:22:00

Nuclear - including advanced and small modular reactors - can play a positive role in helping to rebuild the post-COVID economy while also helping combat climate change, Urenco and U-Battery Ltd have said in a submission to the UK Business, Energy and Industrial Strategy (BEIS) Select Committee inquiry on post-pandemic economic growth.