Daily (28.02.2020): Oil prices tumbled to 1-year lows due to the rapid spread of the coronavirus outside China

28/02/2020 11:32 Daily

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Crude oil futures continued their plunge to their lowest levels in over a year on Thursday due to the rapid spread of the new coronavirus epidemic outside China.

Brent crude for April delivery declined by $1.25, or by 2.3%, to settle at $52.18 a barrel on ICE London. WTI crude dipped by 3.4%, to close at $47.09 a barrel on NYMEX.

 

 

Forecasts for lower consumption due to worries about the coronavirus, as well as weaker oil prices, weighed on the British gas market on Thursday. NBP spot slipped by 3.3% to 24.27 p/therm. On the curve, the gas price for April delivery shed 1.4% to 21.18 p/therm, while the price for year-ahead delivery lost 1.1% to 34.63 p/therm.

 

European spot power prices tumbled on Thursday due robust wind power output in Germany. However,  tighter nuclear availability in France limited losses. The German day-ahead power declined by 18.7% to 31.28 EUR/MWh, while the French equivalent contract shed 10.3% at 31.02 EUR/MWh.

 

Year-ahead power prices lost ground, tracking a weaker energy complex. The German Cal’21 contract ended  1% down at 40.60 EUR/MWh, while the same contract in France decreased by 0.6% to 42.35 EUR/MWh.

 

EUAs expiring in 2021 sank by 2.7% to 23.78 EUR/tone, amid a bearish energy complex.

Daily (26.06.2020): German forward prices increased by over 2% on Monday tracking stronger carbon prices

26/05/2020 13:15:00

Oil markets were relatively quiet with no significant movements on Monday due to Memorial Day in US and Spring Bank Holiday in the UK. However, o firmer demand and output cuts lent support to prices.

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Hard coal alliance proposes runtime extension for 'reserve' under Germany's phase-out - report

26/05/2020 11:49:00

An alliance of hard coal plant operators plans to achieve an expansion of the runtime of Germany's seven most modern hard coal plants by proposing to shift them into an "energy transition reserve" to back up intermittent renewable power production, Christian Geinitz reports for the Frankfurter Allgemeine Zeitung.

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Orsted consortium plans offshore Power-to-X play

26/05/2020 11:31:00

Orsted and a consortium of Danish companies have formed a landmark partnership to develop an industrial-scale transport fuel production facility in the Copenhagen area that will be powered by offshore wind in the Baltic Sea.

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