The European power spot prices were mixed yesterday, decreasing in France (-5.99€/MWh day-on-day) on expectations of weaker demand but sharply rising in Germany (+18.71€/MWh), Belgium (+5.30€/MWh) and the Netherlands (+50.01€/MWh) amid forecasts of dropping wind generation. The EUAs traded sideways on Thursday, rising alongside the gas market in the morning with additional support from the…
Crude oil prices in Europe and the US continued to climb, to reach 76 $/b for the ICE Brent September contract. On the opposite of the spectrum, INE crude, Shanghai’s medium sour crude future expired for September’s contract at a significantly lower level than previous trading sessions, likely to reflect the growing concerns around a recent…
Natural gas prices continued to rise to record highs on Thursday with TTF prices trading above €40/MWh for the first time ever while JKM prices are approaching 8-year seasonal highs and are keeping European LNG supply tight (see below chart). Time spreads also traded in unchartered territories with the TTF Q4 21-Q1 22 spread nearing…
Sentiment was positive yesterday but disappeared overnight with Asian equity markets down sharply and US futures down. Bond yields are edging down after a rebound and the USD has regained some ground after heavy losses (1.1880). US GDP growth figures were welcomed but concerns about the Chinese authorities’ attitude towards private companies and the resurgence of the…
The power spot prices plunged in northwestern Europe yesterday amid forecasts of surging wind output, stronger solar generation, slightly improved French nuclear production and weaker power demand. The day-ahead price hence dropped to their lowest level since mid-June at 42.62€/MWh on average in Germany, France, Belgium and the Netherlands, -29.65€/MWh day-on-day. Ignoring the potential pressure…
