After taking a breather on Wednesday, European gas prices resumed their uptrend yesterday, still supported by tight fundamentals. Indeed, Russian supply remained weak yesterday, averaging 287 mm cm/day (compared to 288 mm cm/day on Wednesday), as both flows through Poland and Ukraine remained below their levels of last week. Norwegian flows were down, averaging 292…
The BSEE reported that as of yesterday that the total outages in the Gulf of Mexico remained at 1.7 mb/d, which was revised higher from the day before when the bureau estimated outages at only 1.4 mb/d. This shows that impacts on production are still not fully understood. In the wake of this news and a…
A new record for the equity markets in New York, stable bond yields and a falling USD: the market is calmly awaiting the August employment report in the US. The consensus is +725k, down from the last 2 months. The ADP figures suggest a much lower result, reflecting the surge in the delta variant. On the other…
NWE spot baseload power prices were up yesterday, to €118.879/MWh on average for today delivery (compared to €112.274/MW for Wednesday), supported by forecasts of lower wind generation (3208 MW for today in Germany, compared to 4911 MW yesterday). EUA Dec’21 prices jumped to a new all-time high of €61.90/t yesterday, before falling gradually to close…
European gas prices weakened overall yesterday at the close. They increased during most of the session, supported by new worries on Russian supply, before falling at the end, probably because of profit taking. On the pipeline supply side, Russian supply dropped yesterday, averaging 288 mm cm/day (compared to 313 mm cm/day on Tuesday), as both…
