Daily (25.01.2021): Brent crude fell by 1.2% on Friday, weighed by renewed coronavirus infections in China

25/01/2021 10:04 Daily

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Oil prices ended lower on Friday, weighed by renewed infections of Covid-19 in China, with several cases linked to the English variant. Moreover, an increase in U.S. crude stocks also put pressure on prices. Consequently, Brent oil dropped by 1.2% to $55.41 a barrel and WTI crude closed 1.6% lower at $52.27 a barrel.

British near-term gas prices were bullish on Friday, lifted by forecasts for colder temperatures and an undersupplied system. As such, the NBP February contract rose by 6.3% to 60.15 p/therm. Contracts further on the curve traded higher, despite losses on the oil market. The gas contract for Summer delivery gained 2.4% to 44.05 p/therm.

 

European day-ahead power prices were bullish on Friday, supported by outlooks for lower wind generation next week. As such, the German spot power price surged by 21.6% to 51.72 EUR/MWh and the French spot power price closed 3.7% higher at 51.81 EUR/MWh.

 

Front-year power contracts increased slightly, following rising carbon prices. Hence, the German Cal’22 power contract gained 0.6% to 50.99 EUR/MWh, while its French counterpart edged 0.4% higher at 52.05 EUR/MWh.

 

European carbon prices gained ground on Friday, on colder weather outlooks and prospects of auction supply resumption. As a result, the CO2 EUA expiring in December 2021 ended 0.4% higher at 34.24 EUR/tonne.

Daily (02.03.2021): Oil prices fell sharply on Monday amid jitters that OPEC will raise output

02/03/2021 09:24:00

Crude oil futures extended losses on Monday amid supply concerns ahead of the OPEC+ key meeting on Thursday, rising output from Venezuela, and weak crude demand from China. Hence, Brent crude settled at $63.69 a barrel, dropping by $2.44, or 3.7%. Meanwhile, U.S. WTI crude fell by 0.86 cents or 1.4%, to end at $60.64 a barrel.

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Lithuania to start supplying LNG to Poland next year

02/03/2021 08:57:00

Lithuanian state-controlled energy company Ignitis Group will start supplying liquefied natural gas (LNG) to Poland next year when a new pipeline between the two countries comes online, its CEO said on Monday.

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ENA brings more flexibility to the grid with contract update

02/03/2021 08:53:00

The Energy Networks Association (ENA) has updated its standardised flexibility contract used across the energy sector to offer more transparency and increase accessibility.

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