Daily (30.04.2020) Brent crude soared by 10% due to a drop in U.S oil and gasoline stocks

30/04/2020 11:36 Daily

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Crude futures soared on Wednesday, stimulated by a fall in U.S crude stocks and gasoline inventories. As a result, Brent crude jumped by 10.1% to $22.54 a barrel. WTI futures ended 22% higher at $15.06 a barrel. 

British wholesale gas prices were bearish on Wednesday, influenced by global weak fundamental demand amidst the pandemic. NBP spot lost 5.2% to settle at 12.85 p/therm. On the curve, the contract for delivery in Q3 2020 traded 2.1%, lower at 17.12 p/therm.   


European spot power prices fell on Wednesday, due to a rise in wind power supply in Germany and France. The German day-ahead power price dropped by 13.2% to 20.00 EUR/MWh. At the same time, the French day-ahead power price sank by 38.5% to 7.86 EUR/MWh 

 

On the curve, electricity prices extended losses on Wednesday amid a bearish energy complex. The German power contract for delivery in 2021 lost 0.6% at 37.13 EUR/MWh. Meanwhile, the equivalent French power contract traded 1.1% lower at 43.86 EUR/MWh.   

 

EU carbon prices declined on Wednesday, with traders engaged in building short positions. The price for the 2021-expiry contract decreased by 0.1% to 20.57 EUR/tonne. 

Daily (08.07.2020): German and French spot electricity prices at their highest levels since the end of January amid lower renewables output and nuclear availability

08/07/2020 11:15:00

Crude oil futures were little changed on Tuesday as an apparent optimism that U.S. crude inventories will decline this week was overshadowed by the surge in coronavirus cases in parts of the world which continued to pressure prospects for energy demand. Hence, Brent crude for September delivery steadied at $43.08 a barrel, while the U.S. WTI crude stagnated at $40.62 a barrel.

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08/07/2020 09:36:00

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08/07/2020 09:32:00

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