Daily (29.07.2020): British gas prices gained ground on Tuesday amid lower Norwegian flows and higher carbon prices

29/07/2020 10:24 Daily


Crude oil futures ended lower on Tuesday as market players continue to fret over the impact of COVID-19 on energy demand ahead of weekly petroleum supply data expected to show a further rise in U.S. crude inventories. Hence, Brent crude slipped by 19 cents, or 0.4%, to settle at $43.22 a barrel, while U.S. WTI crude futures declined by 56 cents, or 1.4%, to settle at $41.04 a barrel.

Lower flows from the Norwegian continental shelf spurred the British day-ahead gas price on Tuesday. In this context, NBP spot rallied by 4.8% to 13.00 p/therm. Further along the curve, the gas price for Summer 2021 delivery soared by 1.9% to 28.36 p/therm, driven by higher carbon prices.

European spot electricity prices diverged on Tuesday, with the German day-ahead power plunging by 9.7% to 20.75 EUR/MWh, hitting a three-week low amid a surge in solar power generation and weak demand. On the contrary, the French equivalent contract jumped by 14.3% to 37.69 EUR/MWh due to lower nuclear availability.

Year-ahead power prices remained little changed in quiet trading, with the German Cal’21 at 38.99 EUR/MWh, while the French Cal’21 rose slightly by 0.7% to 43.88 EUR/MWh.

EUAs expiring in 2021 soared by 2.9% to 26.11 EUR/tonne, recovering from the previous session’s 5% drop amid hopes of more government stimulus measures.

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

27/10/2020 09:27:00

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.


Germany awards 769 MW onshore wind in latest tender, highest since 2017

27/10/2020 08:58:00

Germany's latest onshore wind auction was only marginally undersubscribed with 769 MW awarded of 825 MW offered, the highest volume in almost three years, grid regulator BNetzA said Oct. 26.


Lower prices drive Asia's demand for LNG as ship fuel

27/10/2020 08:53:00

Globally, LNG is expected to account for 10 per cent of overall marine fuel mix by 2030, up from less than 0.1 per cent last year, he added