In a session with low liquidity as the UK market was closed, European gas prices maintained their uptrend yesterday, still supported by tight fundamentals. The strong rise in Asia JKM prices (+3.07% on the spot, to €52.933/MWh) and in parity prices with coal for power generation (both coal and EUA prices were up) helped once…
A bad surprise in China, where the services purchasing managers’ index (PMI) fell well below the 50 level that separates contraction and expansion in activity in August. This suggests that the impact of the containment measures put in place to stem the resurgence of the pandemic was much stronger than expected. The manufacturing index also…
European gas prices increased strongly last Friday, supported by ongoing tight fundamentals (strong injection demand due to relatively weak stock levels while supply remains constrained) and short-covering for the last trading day of the September contract. The strong rise in Asia JKM prices (+5.28% on the spot, to €51.355/MWh) and in parity prices with coal…
NWE spot baseload power prices were up last Friday, to €107.720/MWh on average for today delivery (compared to €96.053/MW for Friday), supported by expectations of lower wind generation and higher clean fuel costs. EUA Dec’21 prices maintained their uptrend, rising to a new all-time high of €59.95/t and finally closing at €59.00/t (+3.76% day-on-day), supported…
The oil market was focused on the Ida hurricane making landfall yesterday, strengthening to a Category 4 hurricane with winds reaching 240 km/h in key areas of the US petroleum complex (especially the Port Fourchon and LOOP complexes in Louisiana, delivering 17% of US crude supply) and knocking out power supply across Louisiana. With 1.7 mb/d of…
