Daily (03.07.2020): Brent and WTI settled on Thursday at their highest levels since March amid lower U.S. unemployment rate

03/07/2020 09:49 Daily


Crude oil futures posted a second consecutive day of gains on Thursday, with Brent and WTI hitting their highest levels since March 6, after a decline in U.S. unemployment rate and a sharp drop in crude stockpiles earlier this week. Hence, Brent crude for September delivery soared by $1.11, or 2.64%, to settle at $43.14 per barrel. At the same time, U.S. WTI crude edged 83 cents higher, or 2.08%, to end at $40.65 per barrel.

A well supplied system due to higher flows from Norway weighed on British near-term gas prices on Thursday, with NBP spot 5.5% down at 14.50 p/therm. Further on the curve, prices increased in tandem with oil prices, with the gas price for Q1 2021 delivery trading 0.8% higher at 37.17p/therm.

German and French spot electricity prices decreased sharply on Thursday, dragged down by robust renewable and nuclear supply, as well as by weaker demand before weekend. Consequently, the German day-ahead power price dipped by 10.2% to 34.93 EUR/MWh, while the price for the equivalent contract in France dived by 6% to 36.57 EUR/MWh.

Year-ahead power prices posted minor losses, tracking lower carbon prices. Thus, the German Cal’21 power and the French Cal’21 contracts declined slightly by 0.2% to trade at 41.77 EUR/MWh and 48.44 EUR/MWh respectively.

EUAs expiring in 2021 retreated on Thursday, but extended the previous session’s 11-month high, despite a robust supply injection over the rest of the year. As a result, EUAs expiring in 2021 lost 1.3% at 27.66 EUR/tonne.

Daily (23.11.2020): Crude oil prices increased on Friday ahead of Thanksgiving week in the US

23/11/2020 11:45:00

Crude oil prices rose on Friday, ahead of Thanksgiving holiday in the United States. Hopes of progress on the Covid-19 vaccine lent support to prices. As a result, Brent oil increased by 1.7% to close at $44.96 a barrel and WTI crude gained 1.6% to settle at $42.42 a barrel.


Baleària completes first LNG bunkering in Port of Almeria

23/11/2020 08:43:00

Spanish shipping company Baleària completed the first liquefied natural bunkering in the port of Almeria.


Electrabel calls for clarity on Belgian phase-out

23/11/2020 08:36:00

Electrabel - the Belgian subsidiary of French utility Engie - says it will not make any further investments at Doel unit 4 and Tihange unit 3 unless it is clearer whether the reactors will or will not be allowed to operate beyond 2025. A report due out at the end of next year may lead to the reactors being allowed to continue operating to ensure Belgium's energy security.