Daily (31.07.2020): WTI crude slipped below $40 a barrel on Thursday amid bearish economic data, political uncertainty in the U.S.

31/07/2020 10:44 Daily

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Crude oil futures posted a steep decline on Thursday, with WTI crude slipping below $40 a barrel for the first time in three weeks, pressured by worries about resurgence in coronavirus cases and bearish U.S. economic data. Suggestions made by U.S. President Donald Trump that nation's November presidential election may be delayed added further pressure on oil prices. Hence, Brent crude decreased by 81 cents, or 1.9%, to settle at $42.94 a barrel. At the same time, U.S. WTI crude futures fell by $1.35, or 3.3%, to end at $39.92 a barrel.

The British day-ahead gas price tumbled by 3.4% to 12.75 p/therm on Thursday, restrained by plentiful supply and higher Norwegian gas flows. Further along the curve, the gas price for year-ahead delivery decreased by 1.9% to 32.46 p/therm, tracking lower carbon prices.


European spot power prices gained ground on Thursday, driven by expectations of lower renewable energy generation. As a result, the German day-ahead power price jumped by 8% to 38.51 p/therm, while the equivalent contract in France soared by 2.6% to 41.41 EUR/MWh.


Year-ahead power prices reversed previous gains amid a sliding carbon price, along with a pessimistic economic outlook on the back of fears of a second wave of the coronavirus. Thus, the German Cal’21 power traded 1.9% lower at 39.09 EUR/MWh, while the French Cal’21 power settled at 44.03 EUR/MWh, posting a 1.1% daily loss.


EUAs expiring in 2021 slumped by 2.5% to 25.90 EUR/tonne on Thursday, pressured by worse-than-expected GDP and corporate data.

Daily (30.07.2020): European CO2 prices rebounded by nearly 2% on Wednesday tracking a stronger auction in Poland.

30/07/2020 13:19:00

Crude oil prices inched higher on Wednesday, following an unexpected drop in US crude inventories. Consequently, Brent crude rose by 1.2% to $43.75 a barrel, while WTI futures increased by 0.6% to $41.27 a barrel.

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Eneco, Shell win Dutch offshore wind tender with 759-MW project

30/07/2020 10:56:00

A joint venture between Dutch utility Eneco and oil and gas major Royal Dutch Shell Plc has won the tender for the third zero-subsidy offshore wind farm in the Dutch North Sea, to be built in the Hollandse Kust Noord zone.

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Assembly of world’s largest nuclear fusion reactor begins in France

30/07/2020 10:49:00

A total of 35 nations are currently collaborating to build tokamak, a magnetic fusion device, which aims to demonstrate the real potential of fusion as a large scale carbon-free source of energy

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