Daily energy Overview, Friday, July 01, 2011

01/07/2011 10:10 Electricity Market

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U.S. crude futures increased on Thursday, but closed the month down 7 percent and the quarter down by more than 10 percent registering the lowest level of the quarter since the fourth quarter of 2008. U.S. crude for August delivery rose for a third day and traded at 95.42 dollars a barrel, lifting 65 cents after a trading range from 93.88 to 95.82 dollars.

Brent crude traded up on Thursday, but closed the month down by over 3 percent and the quarter by 4.2 percent, having hit the lowest level of quarter since the second quarter of 2010. ICE Brent crude for August delivery traded at 112.48 dollars a barrel, up 8 cents after trading between 110.72 and 113.24 dollars. Short-term forward prices for Nordic electricity continued to ease on Thursday as rainwater continued to flood hydropower reservoirs across the region. The benchmark electricity forward contract on the Nasdaq Exchange Commodities traded at 43.65 euros, down 0.80 percent. British forward gas prices edged down on Thursday afternoon, but still stayed over 70 pence per therm, while the spot market decreased on increase in imports. Gas for Friday delivery settled at 57.30 pence, down 1.10 pence. Carbon prices were stable on Thursday morning ahead of Greek Parliament second decision on debt crisis. By 08:36 GMT, the ICE ECX December 2011 EUA contract settled at 12.95 euros, down 6 cents from Wednesday’s closing price.

Daily (06.07.2020) NBP spot plunged by almost 5% on Friday influenced by an upward revision of the French nuclear output.

06/07/2020 10:40:00

Crude oil prices lost momentum on Friday, on renewed fears over global fuel demand as U.S reported a surge in coronavirus cases. Nevertheless, signs of improving global economy and OPEC+ record high supply cuts limited the loss. As a result, Brent crude decreased by 0.8% to $42.80 a barrel. Similarly, WTI futures traded 1% lower at $40.24 a barrel.

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Swinoujscie terminal receives 100th LNG shipment

06/07/2020 10:05:00

The Swinoujscie gas terminal in north-western Poland received its 100th liquefied natural gas cargo on Friday. The 90,000 tonnes LNG shipment came from Qatar Liquefied Gas Company Limited (Qatargas) aboard the Al-Safliya LNG tanker.

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Russia's Novak sees global oil output cuts easing from August

06/07/2020 09:56:00

Russian Energy Minister Alexander Novak said on Thursday that the OPEC+ group of oil producers is expected to start easing oil output cuts from August as previously agreed.

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