Daily (21.10.2020): WTI crude at its highest level in seven weeks on Tuesday amid U.S. stimulus deal hopes

21/10/2020 08:34 Daily


Crude oil futures rebounded on Tuesday after four sessions of losses, with WTI crude hitting its highest settlement in almost seven weeks amid expectations for a weekly decline in U.S. crude stockpiles. The resumption of U.S. stimulus negotiations added further upward momentum on the oil markets. Hence, Brent crude for December delivery rose by 54 cents, or 1.3%, to settle at $43.16 a barrel. Meanwhile, WTI crude for November delivery soared by 64 cents, or 1.6%, to end at $41.70 a barrel.

All British gas contracts gained ground on Tuesday, with near-term gas prices buoyed by persisting cold weather and higher LNG prices.
Thus, NBP spot gained 0.8%, to trade at 40.05 p/therm, while the gas price for November delivery soared by 1.6% to 42.06 p/therm.
Bullish oil prices spurred gas prices along the forward curve, sending the gas price for year-ahead delivery 1.1% higher at 39.50 p/therm.
European spot electricity prices slid on Tuesday as wind generation was expected to peak. Consequently, the German day-ahead power plummeted by 7.4% to 32.61 EUR/MWh, while the equivalent power contract in France lost 0.7%, to trade at 38.99 EUR/MWh.

Year-ahead power prices turned bearish, mainly due to weaker carbon prices. The German Cal’21 power declined by 0.6% to 39.66 EUR/MWh, while the French similar contract decreased by 1.2% to 43.68 EUR/MWh.
Weak auction prices and uncertainty about a Brexit deal sent European carbon prices to a four-month low on Tuesday. As a result, EUAs expiring in 2021 fell by 2.3% to 24.60 EUR/tonne.

Construction starts on first Dutch bio-LNG installation

24/11/2020 08:34:00

The construction of the first Dutch bio-LNG installation kicked off in Amsterdam Westpoort.


Daily (23.11.2020): Crude oil prices increased on Friday ahead of Thanksgiving week in the US

23/11/2020 11:45:00

Crude oil prices rose on Friday, ahead of Thanksgiving holiday in the United States. Hopes of progress on the Covid-19 vaccine lent support to prices. As a result, Brent oil increased by 1.7% to close at $44.96 a barrel and WTI crude gained 1.6% to settle at $42.42 a barrel.


Baleària completes first LNG bunkering in Port of Almeria

23/11/2020 08:43:00

Spanish shipping company Baleària completed the first liquefied natural bunkering in the port of Almeria.