European spot gas prices were mixed again yesterday, unable to find a strong driver. Prices on the curve were more clearly up, more sensitive to the increase in parity prices with coal for power generation than to the drop in Asia JKM prices. On the pipeline supply side, Russian flows were almost stable yesterday, averaging…
Crude prices jumped, with Brent October contract reaching 72 $/b, as the Ida hurricane threat became clearer. Ida is expected to reach oil infrastructures by Sunday, passing through the Gulf of Mexico’s main offshore fields and landing in Lake Charles and Baton Rouge, where significant refining capacity is (Exxonmobil, Citigo and Phillips 66 refineries account…
Stocks are down, rates (US 10y at 1.34%) and the dollar (EUR/USD at 1.1760) are up very slightly: the market is logically playing it safe ahead of Jerome Powell’s key speech at 4pm (CET) today. Several Fed members (who are not voting on monetary policy decisions this year, however) have already set the tone yesterday by…
NWE spot baseload power prices were slightly up yesterday, to €93.285/MWh on average for today delivery (compared to €89.703/MWh /MWh for Wednesday), supported by expectations of lower solar generation and higher demand. EUA Dec’21 prices took a breather after their strong rebound of the previous sessions, closing at €56.54/t (-0.18% day-on-day). Curve power prices were…
European gas prices were mixed yesterday, unable to find a strong driver. Asia JKM prices and parity prices with coal for power generation, which tend to set the ceiling and the floor for European prices respectively, sent mixed signals, up for the former, down slightly for the latter. On the pipeline supply side, Russian flows…
