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


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.


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.


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.