The White House has reached a deal with a bi-partisan group of Senators at the Senate on an infrastructure package including $579bn in new spending. This is far from the whole $2.3bn plan announced by Mr. Biden in March. Social spending could be part of another plan that Democrats will try to pass without the…
The power spot prices climbed further up in northwestern Europe yesterday, lifted by the soaring gas and carbon prices and forecasts of weaker renewable production. The day-ahead prices reached 91.86€/MWh on average in Germany, France, Belgium and the Netherlands, +2.90€/MWh day-on-day. The EUAs rose above 54€/t in a fourth consecutive bullish session yesterday as the…
ICE Brent prompt contract remained at in the mid 75 $/b, as the EIA weekly report depicted a rather tight US crude market. Cushing drew by 1.8 mb, prompting questions about how fast this storage point would draw in 2021, given the lack of onshore US crude production. European refining margins remained constrained, below 5$/b…
Bulls kept control of European and Asian gas markets on Wednesday, pushing TTF and JKM benchmarks to new highs once again amid multiple supply outages across the globe and a rising energy complex notably with Brent prices hitting the $76/b mark intraday. Weak LNG regas volumes in France and the Netherlands due to ongoing maintenance work at Gate,…
Limited market moves again yesterday, as Fed members continued to send mixed signals on monetary policy. Preliminary PMIs confirmed the strength of activity growth but also raising tensions on production costs. The economic agenda is full today with in addition, a Bank of England meeting and many Fed speakers again. The EUR/USD exchange rate remains…
