Daily (27.01.2020): Brent oil posted a 6.4% weekly decline on concerns of a possible global coronavirus pandemic

27/01/2020 11:01 Daily

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Oil prices posted their worst week since more than a year on Friday, on worries that the coronavirus will spread further in China, hurting demand for oil. Brent crude for March delivery fell by $1.35, or 2.2%, to settle at $60.69 a barrel. For the week, it plunged by 6.4%. WTI crude dipped by $1.4, or 2.5%, to end at $54.19 a barrel. It lost 7.4% week-on-week.

The NBP day-ahead gas price jumped by 1.4% to trade at 27.40 p/therm, due to an undersupplied system. Along the forward curve, prices were also bullish. The gas contract for Q2 2020 delivery edged 0.4% up at 25.07 p/therm, while the gas for Summer 2020 delivery settled 0.4% higher at 25.58 p/therm.


European spot electricity prices collapsed on Friday as German wind power output is expected to grow more than twice and due to low demand in France. The German day-ahead power price tumbled by 19.7% to stand at 40.35 EUR/MWh, while the same contract in France dropped dramatically by 19.9% to 40.80 EUR.


Year-ahead power contracts posted minor losses amid a weaker energy complex. German Cal’21 contract was nearly flat at 42.14 EUR/MWh, while the French equivalent contract eased 0.1% at 43.81 EUR.


A sluggish auction demand weighed on carbon prices on Friday. The EUAs expiring in 2021 lost 1.3% to close at 24.57 EUR/tonne.

 

Daily (02.04.2019): British gas prices near 2009 lows on Wednesday, due to weak demand

02/04/2020 11:30:00

Crude oil prices were bearish on Wednesday, weighed by a steep rise in U.S. crude inventories last week, the biggest weekly rise since 2016, while gasoline demand continued to decline. Consequently, Brent crude for June delivery traded 6.1% lower at $24.74 a barrel. Similarly, WTI futures slid by 0.8% to $20.30 a barrel.

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Germany 'closes in' on 2020 renewables goal

02/04/2020 09:49:00

Germany is likely to achieve its binding EU renewable target for 2020, according to the latest figures from the country's federal environment agency.

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CO2 may plumb fresh lows this month on virus impact

02/04/2020 09:45:00

The coronavirus pandemic is likely to maintain pressure on carbon prices in April, potentially sending them to fresh two-year lows as the world locks down communities to reverse the pace of infections.

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