European gas prices dropped significantly yesterday, pressured by more comfortable pipeline supply and profit taking after the previous sessions’ strong gains. Russian flows were stable yesterday, averaging 318 mm cm/day, above the levels of end August (313 mm cm/day). Norwegian flows continued to rebound, to 288 mm cm/day on average (compared to 280 mm cm/day…
The power spot prices presented mixed variations for today, down in Germany and the Netherlands amid forecasts of sharply rising wind output for the upcoming hours, but slightly up in France and Belgium as this bearish pressure was offset by expectations of weaker French nuclear availability. The day-ahead prices hence fell by 8.55€/MWh on average…
Crude prices climbed above 75 $/b at the prompt for ICE Brent futures, as the EIA reported a surprise stock draw of 6.4 mb when most market observers were expecting builds, as there was a possibility that refiners in Louisiana could take longer than expected to ramp-up output. Crude production remained low, at 10.1 mb/d,…
In a very volatile session, European gas prices posted further strong gains yesterday. Concerns that Nord Stream 2 would probably not start commercial deliveries until 2022 continued to lend support. A fire that hit UK’s National Grid’s 2GW IFA power interconnector between France and the UK provided additional support. The rise in Asia JKM prices…
Concerns in Asia weighed on European markets yesterday and in Asia overnight with new restrictive measures adopted by Chinese authorities against tech companies as well as concerns over a possible debt restructuring of major property developer Evergrande. Wall Street had escaped the gloom thanks to a rebound in energy stocks in the wake of rising commodity…
