Crude prices regained the lost ground of last week, with ICE Brent September contract at 74.6 $/b. India plans to further commercialize its SPR, in an effort to free some of its idle crude oil reserves, and to promote market-driven storage, in a time where backwardation incentivize commercial players to release stocks. With similar concerns, China also…
European spot gas prices increased yesterday, supported mainly by lower Norwegian supply. Indeed, Norwegian flows were significantly down, averaging 275 mm cm/day, compared to 309 mm cm/day on Friday, due to an unplanned outage at the Troll field. By contrast, Russian supply jumped to 331 mm cm/day on average (compared to 271 mm cm/day on…
Baring the sharp drop in Chinese equities due to the crackdown against education companies, equities have remained almost stable yesterday. Slight moves on the bond market and a very limited weakening in the USD too. To answer the question, it is not summer break yet, as there are many key economic indicators on the agenda…
The power spot prices for today rose to levels similar to Friday amid forecasts of mixed fundamentals with a weaker renewable generation expected to be offset by an improved French nuclear availability and lower power demand. The day-ahead prices hence reached 88.88€/MWh on average in Germany, France, Belgium and the Netherlands, +0.59€/MWh from Friday. The…
ICE Brent September contract traded at 73.3 $/b on early Monday, on a backdrop of declining US bond yields, depressing the price of risky assets such as Asian equities and commodity prices. On Friday, we learned more about last Monday’ sell-off which shaved 7% off on most oil futures after regaining slowly their values throughout the week. Indeed,…
