Daily (27.01.2020): Brent oil posted a 6.4% weekly decline on concerns of a possible global coronavirus pandemic

27/01/2020 11:01 Daily


Oil prices posted their worst week since more than a year on Friday, on worries that the coronavirus will spread further in China, hurting demand for oil. Brent crude for March delivery fell by $1.35, or 2.2%, to settle at $60.69 a barrel. For the week, it plunged by 6.4%. WTI crude dipped by $1.4, or 2.5%, to end at $54.19 a barrel. It lost 7.4% week-on-week.

The NBP day-ahead gas price jumped by 1.4% to trade at 27.40 p/therm, due to an undersupplied system. Along the forward curve, prices were also bullish. The gas contract for Q2 2020 delivery edged 0.4% up at 25.07 p/therm, while the gas for Summer 2020 delivery settled 0.4% higher at 25.58 p/therm.

European spot electricity prices collapsed on Friday as German wind power output is expected to grow more than twice and due to low demand in France. The German day-ahead power price tumbled by 19.7% to stand at 40.35 EUR/MWh, while the same contract in France dropped dramatically by 19.9% to 40.80 EUR.

Year-ahead power contracts posted minor losses amid a weaker energy complex. German Cal’21 contract was nearly flat at 42.14 EUR/MWh, while the French equivalent contract eased 0.1% at 43.81 EUR.

A sluggish auction demand weighed on carbon prices on Friday. The EUAs expiring in 2021 lost 1.3% to close at 24.57 EUR/tonne.


Britain to invest 90 million stg to cut emissions from homes, industry

19/02/2020 09:15:00

Britain will invest 90 million pounds ($117 million) on measures to cut carbon dioxide emissions from homes and industry, including two hydrogen plants, the government said on Tuesday.


Daily (19.02.2020): NBP spot soared by 2.8% on Tuesday due to weak LNG supply

19/02/2020 09:22:00

Oil prices were almost unchanged on Tuesday in a market still concerned about the coronavirus epidemic and its economic consequences. Brent crude for April delivery rose by 8 cents, or 0.14%, to end at $57.75 per barrel. On the other side, WTI crude slipped by 0.5% to settle at $52.05 per barrel.


Green light to Lundin for Barents Sea wildcat

19/02/2020 09:17:00

The Norwegian Petroleum Directorate has granted Lundin Norway a drilling permit for a well in the Barents Sea offshore Norway.