European gas prices weakened slightly on Friday, torn between the impacts of ongoing tight fundamentals and profit taking after the previous sessions’ strong gains. Indeed, Russian supply remained weak on Friday, averaging 288 mm cm/day (compared to 287 mm cm/day on Thursday), as both flows through Poland and Ukraine remained below their levels of end…
Crude oil prices continue to fall this morning: Brent 1st-nearby has lost around $2/bbl ($71.65) since the release of the US jobs report on Friday, highlighting economic slowdown and wage pressures. The sharp decline in Saudi crude prices to Asian customers has again highlighted the impact of the Delta variant on demand levels in the region. Nearly 90%…
The August US employment report sent two contradictory signals: a sharp slowdown in job creation (+235k) reflecting the impact of the variant delta, but an acceleration in wages (+0.6% m/m and +4.3% yoy) highlighting the labour shortage. See our Friday’s news on this subject. Equity markets were hesitant in the US but declined in Europe due to the weakening…
DOWNLOAD OUR SPECIAL REPORT The thermal coal market is also experiencing a significant tightness this year A lot has already been said about the worrying level of European gas stocks and its strong impact on global energy prices with notably TTF front-month prices breaching the €50/MWh mark and German Cal 22 power prices breaching the €90/MWh…
NWE spot baseload power prices weakened yesterday, to €112.303/MWh on average for today delivery (compared to €118.879/MW for Thursday), pressured by forecasts of higher wind generation (5596 MW for today in Germany, compared to 3151 MW yesterday). EUA Dec’21 prices resumed their uptrend and closed at €61.52/t (+2.33% day-on-day), supported by the rise in the…
