Daily (22.09.2020): Crude oil started the new week on a bearish mood amid virus resurgence in Europe and expectations for return of Libyan crude production

22/09/2020 09:44 Daily


Expectations that Libyan crude will soon return to the market coupled with worries over a rise in European COVID-19 cases and a global equity market selloff dampened the sentiment on the oil markets on Monday. Hence, Brent crude for November delivery shed by $1.71, or 4% to settle at $41.44 a barrel. Meanwhile, U.S. WTI crude fell by $1.80, or 4.4%, to end at $39.31 a barrel.

The British day-ahead gas price soared by 3% to 30.90 p/therm on Monday, hitting the highest level since December 2019 amid lower wind energy generation. On the curve, the gas price for year-ahead delivery decreased by 2% to 36.94 p/therm, tracking weaker carbon and oil prices.

European spot electricity prices rocketed on Monday, with the German day-ahead power jumping by about 46% to 53.31 EUR/MWh amid forecasts that wind power generation will remain around 10 GW below the norm. Meanwhile, the French equivalent power price rallied by 40.3% to 55.54 EUR/MWh due to persisting low nuclear availability in France.

Year-ahead power prices lost ground, tracking a bearish energy complex. As a result, the German Cal’21 power declined by 2%  to 41.24 EUR/MWh, while the similar French power contract edged 1.6% lower at 47.15 EUR/MWh.

Weaker fundamentals and falling global stocks markets due to surging coronavirus cases sent European carbon prices to a two-week low on Monday. Consequently, EUAs expiring in 2021 plummeted by 5.7% to 26.66 EUR/tonne.

Daily (16.10.2020): EUAs close to a four-month low on Thursday due to Brexit uncertainty and weak auction demand

16/10/2020 10:53:00

Oil prices edged lower on Thursday as OPEC sees a gloomy outlook on demand for black gold. Losses, however, have been limited, as the EIA report showed a larger-than-expected drop in crude stocks in the United States. Brent crude for December delivery traded 0.4% lower at $43.16 a barrel, while WTI oil slipped by 0.2% to $40.96 a barrel.


Germany caps green power levy with $12.5 billion injection after record EEG deficit

16/10/2020 09:29:00

Germany's annual green power premiums require a Eur10.8 billion ($12.5 billion) cash injection from the federal budget to cap the levy at Eur65/MWh, transmission system operators said Oct. 15.


EDF plans to announce new EPR nuclear reactor by mid-2021

16/10/2020 09:24:00

EDF has faced costly delays in the construction of some plants, including its Flamanville 3 nuclear project in France which is more than a decade behind schedule