Daily (28.07.2020): European Cal’21 power prices declined to a six-week low on Monday, influenced by a 5% drop in benchmark carbon prices

28/07/2020 09:49 Daily


Crude oil futures rose modestly at the beginning of the week, gaining little support from new stimulus package in the U.S. and weaker dollar. However, the persisting spread of COVID-19 and its impact on the economy, as well as U.S.-China tensions slashed prices gains. Hence, Brent crude added 0.2% to settle at $43.41 a barrel. At the same time, U.S.WTI crude increased by 0.8% to close at $41.60 a barrel.

NBP spot decreased sharply by 7.5% to 12.40 p/therm on Monday, pressured by a supply glut. Weaker carbon prices weighed on forward gas contracts, with the gas price for Winter 2020 delivery edging 1.8% lower at 31.06 p/therm.

European spot electricity prices evolved differently on Monday, with the German day-ahead power price plummeting by 10% to 22.97 EUR/MWh amid forecasts of higher wind power generation. On the other side, the equivalent power contract in France rallied by 21% to 32.99 EUR/MWh, propelled by lower nuclear availability.

Year-ahead power prices lost ground, taking a cue from a 5% drop in benchmark carbon prices. As a result, the German Cal’21 power dropped by 2.7% to 38.97 EUR/MWh, while the French Cal’21 power declined by 2.3% to 43.59 EUR/MWh. Both power contracts hit their lowest levels in six weeks.

EUAs expiring in 2021 dived by 5.1% to 25.38 EUR/tonne, hitting one-month low on Monday amid a resurgence in coronavirus cases and on weak technical signs.

Daily (04.08.2020): Oil prices added near 2% on Monday amid upbeat economic data

04/08/2020 10:52:00

Crude oil futures ended higher on Monday after a session start in the red as the rise in production from OPEC+ members came into effect, adding to the virus woes. However, oil prices got a boost from positive manufacturing and industrial data across the United States, Europe, and Asia. Hence, Brent crude soared by 63 cents, or 1.5%, to settle at $44.15 a barrel. U.S. WTI crude rose by 74 cents, or 1.8%, to end at $41.01 a barrel.


Shell wraps up acquisition of carbon farming company

04/08/2020 09:42:00

Environmental services company Select Carbon specialises in developing projects which aim to increase carbon capture in plants or soil and reduce Australia’s emissions


Russia Seeks Additional $1.9 Billion In Taxes From Oil & Gas

04/08/2020 09:33:00

Russia’s finance ministry is looking to raise as much as US$1.93 billion (143 billion Russia rubles) in taxes from the oil industry over the next two years, as the oil price crash has shrunk Russia’s key revenue stream—oil.