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Daily (08.07.2020): German and French spot electricity prices at their highest levels since the end of January amid lower renewables output and nuclear availability
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
Daily (07.07.2020): The German Cal’21 power climbed to a 20-week high on Monday, keeping the pace with EUAs above 30 Eur
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
EDF revises 2020 forecast for French nuclear output
EDF is revising upwards its nuclear output estimate in France for 2020, to around 315-325 terawatt-hours. In April, the French state-owned utility said it expected generation this year to be about 300 TWh, down from an initial expectation of 375-390 TWh before the coronavirus outbreak.
read more... 07/07/2020
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Daily (06.07.2020) NBP spot plunged by almost 5% on Friday influenced by an upward revision of the French nuclear output.
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.
read more... 06/07/2020
Daily (02.07.2020): EUAs soared briefly above the €28-level on Wednesday, to hit 11-month highs amid speculative buying
Crude oil futures gained ground on Wednesday amid a massive drawdown in U.S. crude stockpiles, suggesting that demand is improving. However, the surge in new coronavirus cases limited the market’s upside. Hence, Brent crude for September delivery rose by 88 cents, or 2.1%, to settle at 42.03 a barrel. At the same time, U.S. WTI crude gained 55 cents, or 1.4%, to end at $39.82 per barrel.
read more... 02/07/2020