Daily (19.05.2020): EUAs surpass the €20-mark for the first time this month amid wider markets gains

19/05/2020 11:14 Daily

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Crude oil futures rallied to their highest settlement in more than two months on Monday, driven by historic production cuts, the prospect of demand recovery following countries’ lockdown and revival of their economies, and promising early results from coronavirus vaccine trial. 

Hence, Brent crude for July delivery jumped by $2.31, or 7.1%, to settle at $34.81 a barrel, while U.S. WTI crude surged by $2.39, or 8.1%, to end at $31.82.

 

The British spot gas price increased on Monday, even if the outlook remains bearish due to an oversupplied system. As a result, the NBP spot rose by 3.4% to 12.30 p/therm. On the curve, the gas price for year-ahead delivery gained 0.5% at 33.41 p/therm, buoyed by stronger oil and carbon markets.


European spot electricity prices gained ground at the beginning of a new week, spurred by less wind and solar power outlook in Germany and France. As a result, the German power for year-ahead delivery skyrocketed by 39.7% to 23.69 EUR/MWh, while the equivalent contract in France jumped by 22.6% to 19.61 EUR/MWh.

 

Year-ahead power contracts also increased, driven by a bullish energy complex. Hence, the German Cal’21 power traded 1% higher at 36.87 EUR/MWh, while the similar contract in France added 0.8% at 44.46 EUR/MWh.


EUAs expiring in 2021 soared by 6% to 20.71 EUR/tonne, exceeding the €20- threshold for the first time this month, tracking wider markets gains.

Daily (06.07.2020) NBP spot plunged by almost 5% on Friday influenced by an upward revision of the French nuclear output.

06/07/2020 10:40:00

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.

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Swinoujscie terminal receives 100th LNG shipment

06/07/2020 10:05:00

The Swinoujscie gas terminal in north-western Poland received its 100th liquefied natural gas cargo on Friday. The 90,000 tonnes LNG shipment came from Qatar Liquefied Gas Company Limited (Qatargas) aboard the Al-Safliya LNG tanker.

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Russian Energy Minister Alexander Novak said on Thursday that the OPEC+ group of oil producers is expected to start easing oil output cuts from August as previously agreed.

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