British gas prices were bearish on Friday as strong wind output put pressure on gas-for-power demand, leaving the system oversupplied. The day-ahead gas price plunged by 8% to 12.65 p/therm. Further along the curve, the Winter 2020 delivery contract ended 1.6% lower at 34.03 p/therm. European spot power prices lost momentum on Friday, driven down by weaker demand forecasts. The price for the German day-ahead power contract plunged by 21.9% to 28.60 EUR/MWh, while the equivalent French contract settled 22.7% lower at 29.38 EUR/MWh. Meanwhile, forward electricity prices lost ground due to weaker gas prices. The price for the German power contract for delivery in 2020 traded 2.2% lower at 42.01 EUR/MWh, while the equivalent French contract settled 1.4% down at 46.94 EUR/MWh. EU carbon prices continued the upward evolution on Friday as buyers continue to increase volumes amid thin selling. The contract expiring in 2021 rose by 1.5% to 29.34 EUR/tonne.
read more... 13/07/2020
The proposals aim to enable the delivery of emissions-free green energy across the country and meet national net zero targets, while also maintaining high levels of service and grid reliability
read more... 10/07/2020
Crude oil futures fell on Thursday, with U.S. WTI crude slipping back below $40 a barrel as rising cases of coronavirus in the U.S. and some other countries, as well as higher U.S. stockpiles threatened to deteriorate the demand for crude. Hence, Brent crude for September delivery dropped by 94 cents, or 2.2%, to settle at $42.35 a barrel on the ICE Futures Europe. At the same time, U.S. WTI crude for August delivery decreased by $1.28, or 3.1%, to settle at $39.62 a barrel on the New York Mercantile Exchange. Both WTI and Brent on Wednesday hit their highest settlements since March 6.
read more... 10/07/2020
Crude oil futures were little changed on Tuesday as an apparent optimism that U.S. crude inventories will decline this week was overshadowed by the surge in coronavirus cases in parts of the world which continued to pressure prospects for energy demand. Hence, Brent crude for September delivery steadied at $43.08 a barrel, while the U.S. WTI crude stagnated at $40.62 a barrel.
read more... 08/07/2020
Crude oil futures edged higher on Monday, supported by a string of data showing an economic recovery across the globe and amid improving OPEC+ compliance. However, oil continued to be pressured by the surging coronavirus cases. Hence, Brent crude from September delivery rose by 0.7%, or 30 cents, to settle at $43.10 a barrel. At the same time, U.S. WTI crude settled at $40.63 a barrel, up 1% day-on-day.
read more... 07/07/2020