ICE Brent prompt contract remained elevated, at 76.3 $/b at the prompt, as we approached expiry for the August contract. On the refined product side, diesel inventory builds in Europe maintained the ICE gasoil crack below 6 $/b, as continued export from the Middle East and Asia slowed the normalization of European product markets. Physical…
US equities had their best week since February last week. The dovish speeches of some Fed members and the deal about the infrastructure plan in the US fueled optimism. Yet, the Fed’s preferred measure of inflation reached its highest level since 1992 in May and the delta variant keeps on spreading in the UK. The…
The European power spot prices slightly faded yesterday amid forecasts of stronger solar output, improved French nuclear availability and lower power consumption. The day-ahead prices hence reached 88.16€/MWh on average in Germany, France, Belgium and the Netherlands, -3.70€/MWh day-on-day. The carbon prices continued to rise alongside the fuels markets on Thursday and climbed above 55€/t…
ICE Brent prompt contract remained supported at 75.6 $/b. Large crude importers such as India urged the OPEC+ group to increase production, citing inflationary pressures as a potential global macro risk to growth. Stocks in the ARA region built for middle distillates and fuel oil products, showing that the ongoing recovery in European demand is…
Despitesome intraday volatility, European gas prices continued to trend higher onThursday. A further rise in coal (new high for the API 2 Jul-21 contract) andEUA prices (first settlement above €55/t since mid-May for the Dec-21 contract)dragged EU gas-to-coal switching levels higher again. In Asia, buying tendersfor spot LNG volumes in China, Taiwan and Pakistan as…
