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

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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 (27.07.2020): European CO2 prices dropped by over 3.5% on Friday, due to falling equity markets and weak auction activity.

27/07/2020 10:09:00

Oil prices added slight momentum on Friday, supported by Euro zone business activity growth in July. In this context, the International benchmark, Brent crude settled 0.1% higher at $43.34 a barrel. Similarly, WTI crude rose by 0.5%, to settle at $41.29 a barrel, due to a rise in U.S. business activity to a six-month high in July.

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UK’s OVO signs tech sharing deal with energy giant Eni

27/07/2020 09:52:00

Under the deal, Eni gas e luce will use the Kaluza digital platform used by OVO, which allows suppliers to see real time data on customer energy consumption

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Iberdrola to build green hydrogen plant in Spain, finds off-taker

27/07/2020 09:43:00

Iberdrola SA has announced it will build a solar-plus-storage system and a 20-MW electrolyser for the production of green hydrogen in the industrial city of Puertollano, Spain.

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