The European power spot prices for today are slightly up compared to Friday, lifted by expectations of weaker wind output and French nuclear availability, although the forecasts of stronger solar generation are likely to have limited the gains. The day-ahead prices hence climbed to 93.43€/MWh on average in Germany, France, Belgium and the Netherlands, +3.19€/MWh…
Last week’s crude oil price decline was likely caused by a broad selloff in Brent and WTI futures, as total open interest declined significantly. Looking at ICE Brent futures positioning, every category (managed- money, merchant players, swap dealers) reduced their exposure, as volatility was expected to rise, amid an uncertain OPEC+ production policy. Last week’s crude…
European gas prices increased sharply on Friday, mainly supported by the strong rise in Asia JKM prices (+13% on the spot, to €38.507/MWh). The rise in parity prices with coal for power generation (both coal and EUA prices were up) did not help calm the bullish pressure. On the pipeline supply side, Russian supply rebounded…
As the recent collapse in US bond yields, and the flattening of the term structure continues, the reflation thesis might have peaked, with slower growth in the US, limiting supply pressure, as demand eases. But looking abroad, particularly in Asia, there is a lot of evidence that the reflation experienced in the US is still ongoing. …
The European power spot prices faded yesterday amid forecasts of weaker power demand and stronger wind output, albeit expectations of lower solar generation and French nuclear availability might have limited the losses. The day-ahead prices reached 90.24€/MWh on average in Germany, France, Belgium and the Netherlands, -8.04€/MWh day-on-day. Driven down by the bullish moment of…
