Crude prices remained at 69 $/b for the September ICE Brent contract, as the API survey showed stock builds in the US, whereas the market consensus expected draws in crude and gasoline inventories. Indeed, the industry survey reported that crude inventories might build by 0.8 mb, while Cushing stocks were depleted by 3.9 mb. This would…
European gas prices weakened yesterday, pressured by rumors of an imminent US-German agreement on Nord Stream 2 and profit taking. The drop in parity prices with coal for power generation (both EUA and coal prices were down) also exerted downward pressure. On the pipeline supply side, Russian flows remained stable at 163 mm cm/day on…
Broad rebound in equity markets yesterday, but the US 10y remains stuck at 1.2% this morning, after having even touched 1.13%. The market remains cautious but with such low bond yields, investors have no choice but looking at riskier assets to find a descent return on investment. Moreover, the US earnings season has started and not…
The European power spot prices edged up yesterday as the forecasts of weaker production were partly offset by the expectations of stronger solar and nuclear production. The day-ahead prices for today hence reached 91.44€/MWh on average in Germany, France, Belgium and the Netherlands, +1.08€/MWh day-on-day. The carbon prices observed another volatile session on Monday, climbing…
Falling inflation expectations, combined with collapsing equities globally, likely triggered a sell-off in crude and refined products futures. ICE Brent prompt contracts for September delivery went from 73 $/b to 69 $/b at the European close. All other futures prices from the oil complex experienced a similar decline. 10-year bond yields at 1.20% continue to reflect…
