Daily (22.12.2020): New strain of coronavirus in the UK weighed heavily on crude oil prices on Monday

22/12/2020 10:23 Daily


Crude oil futures fell on Monday, weighed down by new travel restriction measures imposed at British borders due to a new strain of coronavirus, reviving concerns over an unsteady recovery in global energy demand.


Hence, Brent crude dropped by 2.6% to settle at $50.91 a barrel. Meanwhile, U.S WTI crude closed at $47.97 a barrel, posting a 2.3% loss on a daily basis.


An unplanned outage at a gas field in Norway and signs of stronger power plant demand propelled British near-term gas prices on Monday. As a result, NBP spot jumped by 10.5% to 46.95 p/therm. Despite weaker carbon prices, the gas price for Q2 21 delivery surged by 5.4% to 40.27 p/therm.


European spot electricity prices plunged at the beginning of the week amid lower demand over the Christmas holidays and an increase in wind supply.


Consequently, the German day-ahead power plummeted by 14.9% to 27.69 EUR/MWh, while the French equivalent power contract closed at 34.55 EUR/MWh, notching a 10.5% slump day-on day.


Year-ahead power prices gained ground due to a higher demand forecast. The German Cal’21 power increased by 1.6% to 45.43 EUR/MWh, while the similar contract in France settled at 49.10 EUR/MWh, posting a 1.9% gain on a daily basis.


EUAs expiring in 2021 slipped by 0.7% to 30.89 EUR/t on Monday, dragged down by bearish financial markets amid fears about a mutating coronavirus strain.

Daily (04.03.2021): Growing volumes of LNG supply pushed British gas prices lower on Wednesday

04/03/2021 10:27:00

Oil prices surged on Wednesday, supported by decreasing gasoline reserves in the United States and anticipation for the OPEC+ summit on Thursday. As such, Brent oil increased by 2.2% to $64.07 a barrel and WTI crude soared by 2.6% to $61.28 a barrel.


UK's hydrogen future could involve both blue and green pathways

04/03/2021 08:45:00

The UK's hydrogen future could involve a mix of both blue and green production pathways, but it needs to get started or risk falling behind, panelists said March 3.


China ‘installed half of new global offshore wind capacity in 2020’

04/03/2021 08:43:00

China accounted for half of all new global offshore wind capacity in 2020.