Daily (26.03.2019): Carbon prices recovered by 4% on Wednesday, as U.S intends to launch a massive financial stimulus to support economy

26/03/2020 10:49 Daily

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Crude oil prices added slight ground on Wednesday, as the United States may vote on a $2 trillion stimulus package to support the economy due to the coronavirus pandemic. Brent crude traded 0.9% higher at $27.39 a barrel. In the same context, WTI futures rose by 2% to $24.49 a barrel.

British wholesale gas prices traded differently on Wednesday. Lower wind output and colder weather expectation lent support to the NBP spot price, which hiked by 4.2% to 22.35 p/therm. On the curve, the Q2 2020 delivery contract lost 3.2% to close at 20.38 p/therm, after the fast outbreak of the pandemic forced many countries to initiate lockdowns.

 

European spot power prices were bearish on Wednesday due to higher wind generation and weaker demand. The German day-ahead power price fell by 3.6% to 22.23 EUR/MWh. Similarly, the French day-ahead power price decreased by 5.1% to 21.32 euros/MWh.

 

On the curve, electricity prices inched higher tracking the bullish trend in the carbon markets. The German power contract for delivery in 2020 gained 0.3%  at 35.28 EUR/MWh. The equivalent French power contract traded 0.5% higher at 39.20 EUR/MWh.

 

EU carbon prices rebounded on Wednesday, on U.S plans to introduce a massive virus-busting financial stimulus. The 2020-expiry contract jumped by 4.4% to end at 17.51 EUR/tonne.

Kremlin says Nord Stream-2 gas pipeline will be completed

29/05/2020 09:05:00

The construction of the undersea Nord Stream-2 gas pipeline to Europe will be completed, the Kremlin said on Thursday amid threats of additional sanctions against the project from the United States.

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Biomass takes record 14% share of UK power mix

29/05/2020 09:01:00

The previous record of UK biomass generation was set earlier this year, according to a new report.

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Daily (28.05.2020): After previous gains, energy markets turned bearish again on Wednesday

28/05/2020 11:48:00

Oil prices turned bearish on Wednesday as tensions between China and the United States intensified, following the statements of the American president about a firm response to China’s proposed security law in Hong Kong. Moreover, some traders treated with suspicion Russia’s commitment to deep production cuts.

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