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Daily (20.08.2021): The German and French spot power prices traded above 100 EUR/MWh due to forecasts for weaker wind generation
Concerns about demand due to the global spread of the Delta variant and a stronger dollar sent crude oil prices to their lowest levels since May. The Federal Reserve’s plans to pull back the pace of their monthly bond purchases strengthened the greenback, pressuring commodities markets on Thursday. As such, Brent oil tumbled by $1.78 or 2.6% to settle at $66.45 a barrel. The American WTI crude dropped by $1.77 or 2.7% to end at $63.69 a barrel.
read more... 20/08/2021
Daily (16.08.2021): Oil prices lost 1% on Friday, on IEA's lowered forecast for global oil demand
Crude oil prices extended losses on Friday, on lowered forecasts for global oil demand from the IEA, due to the progression of the pandemic this year. Hence, Brent oil lost 1% at $70.59 a barrel and WTI crude fell by 0.9% to $68.44 a barrel.
read more... 16/08/2021
Daily (27.07.2021): EUAs surged by 4.5% on Monday amid strong demand for coal-fired power production in Europe and Asia
Crude oil futures diverged to trade rather flat on Monday amid mixed signals. Forecasts that crude supply will be tight the rest of the year provide little support, while the spread of the COVID-19 Delta variant stoked fears about fuel demand, limiting gains. Hence, Brent crude rose by 0.5% to settle at $74.50 a barrel, while U.S. WTI crude lost 0.2% to close at $ 71.91 a barrel.
read more... 27/07/2021
Daily (26.07.2021): Spot power prices lost ground on Friday, on forecasts of stronger wind levels
Oil prices increased slightly on Friday, as signs of strengthening demand were offset by concerns over the Delta variant of the coronavirus. Hence, Brent crude gained merely 0.4% at $74.10 a barrel and WTI oil edged 0.2% higher at $72.07 a barrel.
read more... 26/07/2021
Daily (05.07.2021): German and French spot plummeted by around 13% on Friday amid forecasts for strong wind generation
Crude oil prices ended on a mixed note on Friday awaiting the outcome of a meeting of the OPEC and its allies after a dispute emerged over plans to further ease production curbs through the end of the year. In this context, Brent crude edged 0.4% higher to settle at $76.17 a barrel. Meanwhile, the American WTI closed rather flat at $75.16 a barrel.
read more... 05/07/2021