European and Asian gas prices retraced some of their strong gains recorded earlier in the week on Friday. Spot prices also weakened slightly on the back of a long UK gas system, rising Norwegian production due to a reduced maintenance impact and prospects of higher sendouts from French LNG imports terminals. On the curve, the…
Perfect! That was markets’ reaction after the release of the US job report showing higher-than-expected job creation, enough to be reassuring on growth, but not too strong to fuel inflation fears. Expectations that the Fed would be able to maintain a very accommodating policy even caused bond yields to fall to their lowest level in…
The European power spot prices rose near 100€/MWh on Thursday, driven up by the soaring gas and emissions prices and forecasts of dropping wind output. The day-ahead prices reached 96.34€/MWh on average in Germany, France, Belgium and the Netherlands, +7.66€/MWh day-on-day. Meanwhile the EUA prices extended their all-time high to 58.64€/t amid support from the…
Yesterday’s meeting for OPEC+ members was adjourned, despite a partial agreement reached between the two heavyweights of the group, Saudi Arabia and Russia. The agreement suggested was to add less than 0.5 mb/d per month between August and December, August’s crude production ramp-up was suggested at 0.4 mb/d. The UAE blocked this agreement and asked…
European gas prices reached new highs on Thursday in another extremely bullish trading session. TTF month-ahead prices traded at a new all-time high at €37.50/MWh intraday while NBP month-ahead prices topped 91.9 p/th, a level not seen since an extremely cold month in November 2005 in the UK. At the spot level, Spanish day-ahead prices…
