Crude prices corrected in the early morning, likely due to spillover effects of an Asian equity selloff, amid concerns over the Chinese housing market. Indeed, the dollar index, tracking a basket of currencies against the dollar, rose markedly on late Friday and remains elevated compared to previous months. For the crude markets, two factors are indicating that prices will…
European gas prices rebounded on Friday, supported by technical buying after the strong drop of the previous session as the uptrend (fueled by low stock levels and uncertainty on the commercial start date of Nord Stream 2) is not yet invalidated. Russian flows were stable on Friday, averaging 318 mm cm/day, above the levels of…
Crude prices remained firm yesterday, at 75.4 $/b for ICE Brent font-month contract, as gasoil cracks continued to sharply increase in Europe and Asia. The low sulfur gasoil cracks forward curve in Europe rose above 10 $/b during the last trading session, boosted by a recovery of European economic activity, as denoted in the mobility data,…
The power spot prices overall slightly faded yesterday in northwestern Europe, pressured by forecasts of weaker power demand and increased solar and hydro generation. The day-ahead prices hence reached 159.16€/MWh on average, -5.31€/MWh day-on-day. The EUA prices dropped to a three-week low settlement of 59.31€/t (-0.9% day-on-day) yesterday in another volatile session marked by significant…
The surprise rebound in US retail sales in August (+0.7% m/m), as the variant delta extended its grip on the south and centre of the country, has reintroduced a dose of uncertainty ahead of the Fed meeting next week. What if a reduction in asset purchases is formally announced as early as Wednesday? Long-term yields rose (slightly), with…
