As expected, the European power spot prices edged down yesterday amid forecasts of sharply rising wind output and weaker power demand, although today’s lower solar generation may have limited the bearish pressure. The day ahead-prices hence reached 88.69€/MWh on average in Germany, France, Belgium and the Netherlands, -2.73€/MWh day-on-day. Ignoring the pressure from the British…
The Bank of Japan’s Tankan points to activity rebound, but it should remain dependent on global recovery and what comes first is a new recession. Asian equity markets were down overnight on worries linked to the spread of the Delta variant. European markets followed the same trend yesterday, but US stocks were more resilient, with…
Despite the rapid depletion of US commercial crude stocks, crude futures remained range-bound on early Wednesday, at 74.9 $/b at the prompt. US crude inventories may have dipped by 8.1 mb, while US product inventories built at a more marginal pace. Globally, crude stocks dipped last week by a sizable amount, especially in the Middle…
European gas prices skyrocketed on Tuesday as GTSOU failed to sell monthly interruptible transport capacity at the UA/RU border once again, fuelling concerns over a tight Russian gas supply outlook for July. Indeed, flows through both Yamal and Nord Stream 1 pipelines are due to halt for their annual shutdown (6-10 and 13-23 July respectively)…
The European power spot prices edged up yesterday as the higher fuels and emissions price combined with the expectations of stronger power demand offset the forecasts of rising wind output. Prices hence reached 90.93€/MWh on average in Germany, France, Belgium and the Netherlands, +2.54€/MWh day-on-day. The lingering and strengthening support from the tight gas market…
