Daily (27.10.2020): Brent and WTI crude settled at 3-week lows on Monday amid surging coronavirus cases worldwide

27/10/2020 09:27 Daily


Crude oil futures fell on Monday in response to surging coronavirus cases in the US and Europe, where several countries have already implemented new restrictions, raising concerns about the impact of the pandemic on oil demand. Extra pressure on oil prices comes from increasing Libyan crude oil production and exports after the country recently lifted the force majeure.


Hence, Brent crude shed by $1.31, or 3.1%, to settle at $40.46 a barrel. U.S. WTI crude dropped by $1.29, or 3.2%, to close at $38.56 a barrel. Both, WTI and Brent crude marked their lowest settlements since Oct. 2.


All British gas contracts wiped out the gains reached last week, with the gas price for November 2020 delivery trading 3.3% to 42.20 p/therm amid forecasts of milder weather and weaker carbon prices.


Along the forward curve, the gas price for year-ahead delivery dropped by 2.6% to 39.13 p/therm, tracking a bearish energy complex.


Lower wind energy generation forecasts buoyed the European spot electricity prices at the beginning of the new week. As a result, the German day-ahead power price rallied by 12.2% to 34.61 EUR/MWh, while the French equivalent power contract rocketed by 24.7% to 38.88 EUR/MWh.


Year-ahead power prices lost ground, tracking weaker carbon and gas prices. Thus, the German year-ahead power declined by 1.2% to 39.64 EUR/MWh. Meanwhile, the similar power contract in France settled at 43.72 EUR/MWh, posting a 1.4% loss day-on-day.


European carbon prices dived on Monday amid weak fundamentals and bearish auction results.


In this context, EUAs expiring in 2021 plunged by 6.4% to 24.04 EUR/tonne.

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.


Electrabel calls for clarity on Belgian phase-out

23/11/2020 08:36:00

Electrabel - the Belgian subsidiary of French utility Engie - says it will not make any further investments at Doel unit 4 and Tihange unit 3 unless it is clearer whether the reactors will or will not be allowed to operate beyond 2025. A report due out at the end of next year may lead to the reactors being allowed to continue operating to ensure Belgium's energy security.