For the week ending 4 December 2020, US commercial crude inventories increased 15.2m to 503.2m. After several weeks of relatively muted weekly changes, this week's sharp increase caught markets off-guard. US crude production was flat for the week at 11.1 mb/d.
United States
Mainland nations saw their 2021 calendar year power futures rally with surging gas, coal and carbon prices, slower LNG schedules driven by rallying Asian spot LNG prices, and adjustments to the 2030 emission reduction target.
Europe
Power benchmarks climb higher for third consecutive week, gas prices lift substantially due to supply and demand-side dynamics, carbon EUA recorded its highest ever closing price last week, and more in this UK Energy Pricing report.
United Kingdom
Progress on vaccination plans and the stabilization of the number of new coronavirus cases diagnosed, seem to be pushing futures prices up in the energy Iberian markets.
Iberia
Carbon EUAs closing higher for fifth consecutive week, unvafourable weather fundamentals, natural gas prices remain steady, EU prepares for Phase 4 of Emissions Trading scheme.
Europe
Power benchmarks pushed higher for a second consecutive week, increase in local offtake for heating, amid a drop in temperatures, lifted NBP benchmarks higher week-onweek, carbon permits in longest winning streak since 2019.
United Kingdom