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Daily (11.08.2021): European day-ahead electricity prices hovered at around 100 EUR/MWh on Tuesday amid halving wind, spiralling gas prices, strong demand
Oil prices moved cautiously higher on Tuesday, recouping some of their losses in the previous session, as rising demand in Europe and the United States offset concerns over an increase in COVID cases in Asian countries. Hence, Brent crude rose by $1.59, or 2.3%, to settle at $70.63 a barrel. U.S. WTI crude settled $1.81, or 2.7%, higher at $68.29 per barrel. Both contracts dropped by around 2.5% on Monday, but analysts believe the pandemic turbulence will be short-lived.
read more... 11/08/2021
Senate Democrats target climate in $3.5 trillion plan
The budget resolution, released today, would allow "the most significant investment in tackling the climate crisis in US history" and create a path to reach President Joe Biden's goal for a 50pc cut in domestic greenhouse gas emissions by 2030, Senate majority leader Chuck Schumer (D-New York) wrote in a letter to his colleagues. The Senate plans to start consideration of the budget soon, after holding a final vote in the next day on a $1.5 trillion infrastructure package.
read more... 10/08/2021
Daily (06.08.2021): EUAs climbed to a new four-week high on Thursday in tandem with bullish gas
Oil prices moved upwards, snapping a three-day losing streak on Thursday amid increasing Middle East tensions. However, news restrictions to counter the spread of the Delta variant limited gains. Hence, Brent crude rose by 91 cents, or 1.3%, to settle at $71.29 a barrel. U.S. WTI crude rose by 94 cents, or 1.4%, to settle at $69.09 a barrel.
read more... 06/08/2021
German gas generation falls 35%, coal rebounds as margins diverge
German gas-fired power generation fell in July as record high European gas hub prices further eroded margins, while hard coal generation almost exceeded gas-fired generation and lignite topped the German power mix.
read more... 06/08/2021
Russia to substitute decline in gas exports to Europe by ‘blue’ hydrogen
The European policy of carbon neutrality will inevitably lead to a decline in direct supplies of Russian natural gas and affect derived revenues by 2050, the department head of Gazprom Export, the export arm of Russia’s top gas producer Gazprom, Sergey Komlev said in an interview with Gazprom’s in-house magazine, adding that Russia can maintain its export positions on the European market using ‘blue hydrogen’ deliveries.
read more... 04/08/2021