European gas prices rebounded on Friday, supported by the strong rise in JKM prices in Asia (where high temperatures are driving demand up) and technical buying. On the pipeline supply side, Russian flows were stable at 163 mm cm/day on average yesterday, with the Nord Stream 1 gas pipeline still shut for a 10-day planned maintenance…
Spot power prices were mixed in NW Europe on Thursday with strong gains in France and significant losses in Germany. German wind power generation was unseasonably weak in June and in the first half of July (see graph of the day) while French nuclear generation remained relatively low as well, which provided support to spot…
With another decline in crude oil prices, especially at the prompt, and product prices remaining supported, European refiners are back closer to their average profitability levels. Indeed, ICE Brent crude futures declined further, to reach 73.1$/b for September delivery. The time structure also weakened, at 67 cents. Yet, product prices, especially light ends such as naphtha and…
Prices weakened again yesterday in most European gas markets, pressured by lower demand and technical selling (on the back of lower oil prices). On the pipeline supply side, Russian flows remained stable at 163 mm cm/day on average yesterday, with the Nord Stream 1 gas pipeline still shut for a 10-day planned maintenance that started on…
Global bond yields continued to decline, with short term interest rates left unchanged by South Korean and Japanese central banks. Equities continued to trade sideways in the US, Asia and Europe, as a batch of economic data showed a decelerating global economy. Indeed, US industrial production expanded by 0.4% m/m vs 0.6% for the consensus. The Philadelphia manufacturing…
