Daily (06.11.2020): European Cal’21 power contracts rose to 10-day highs on Thursday amid stronger carbon

06/11/2020 10:22 Daily


Oil prices declined modestly on Thursday amid persisting concerns about the impact of the new COVID-19 restrictions over global demand and uncertain outcome of the U.S. presidential election.


Hence, Brent crude lost 30 cents, or 0.7%, to settle at $40.93 a barrel. Meanwhile, U.S. WTI crude declined by 36 cents, or 0.9%, to end at $38.79 per barrel.


An expected stronger demand due to colder weather across the UK and weaker wind energy generation spurred British near-term gas prices on Thursday. As a result, the gas price for December delivery surged by 3.9% to 41.37 p/therm. Further along the curve, the gas price for Winter 2021 delivery rose by 1.8% to 42.48 p/therm, tracking stronger carbon prices.


Low wind energy generation provided support to European spot electricity prices on Thursday. Consequently, the German day-ahead power price jumped by 4.9% to 40.54 EUR/MWh, while the French equivalent power contract soared by 3.4% to 40.33 EUR/MWh.


Year-ahead power contracts followed the trend of bullish carbon markets, with the German Cal’21 power trading 3.1% higher at 39.23 EUR/MWh. The similar contract in France settled at 42.89 EUR/MWh, posting a 2.9% gain day-on-day. Both contracts hit their highest levels in 10 days.


European carbon prices surpassed the €26-mark on Thursday amid speculative buying and bullish technical picture, neglecting the deadlocked US presidential election. As a result, EUAs expiring in 2021 climbed by 3.4% to 26.14 EUR/tonne.

Daily (19.01.2021): Crude oil markets sluggish on Monday amid stronger U.S. Dollar, surging cases of COVID-19 in China

19/01/2021 08:41:00

Crude oil prices fell modestly on Monday, remaining subdued by the strength of the U.S. Dollar and the extent of the spread of COVID-19 cases in China. Hence, Brent crude declined by 0.6%, to settle at $54.75 a barrel. Meanwhile, U.S. WTI crude ended at $52.05 a barrel, posting a 0.6% loss day-on-day.


Daily (18.01.2021): Carbon EUAs plummeted by 5% on Friday, following a bearish energy market

18/01/2021 12:52:00

Crude oil prices retreated on Friday, weighed by global demand concerns amid the coronavirus pandemic. Hence, Brent crude and WTI oil lost 2.3% to close at $55.10 and $52.36 a barrel, respectively.


RWE to develop four onshore wind farms in France and Poland

18/01/2021 09:12:00

Three of the wind farms will be located in France and one in Poland and will have a total installed capacity of 76MW