While ICE Brent prompt price for August expiry jumped to 75 $/b on early Tuesday, the spread between US crude (light sweet WTI) and the ICE Brent benchmark narrowed spectacularly from –2.4 $/b to –2 $/b. Gasoil cracks and other refined product prices did not rally as quickly as crude prices, leaving the ICE gasoil…
Bond yields have rebounded, equities as well and the USD has lost some ground, the EUR/USD exchange rate returning above 1.19… before falling back below this morning. Fed speakers have in general been reassuring about inflation, but their speeches show different opinions. The market seems a bit lost and does not really know what to…
TTF ICE month-ahead prices traded as high as €30.24/MWh on Monday, breaching the €30/MWh mark for the first time since 2008. At the spot level, prices strengthened further as Norwegian gas imports were constrained by two unplanned outages and NW Europe LNG sendouts remained weak due to planned outages at Gate and Montoir import terminals. Firm entry capacity…
The European power spot prices for today slightly faded compared to Friday amid forecasts of weaker demand, higher wind output and French nuclear availability, although the lower solar production expected in the upcoming hours and recent rebound of gas and emissions prices limited the losses. The day-ahead prices hence reached 77.63€/MWh on average in Germany,…
ICE Brent prices climbed to 73.8 $/b as Iranian talks held on Sunday yielded no outcome. West African barrels are now in demand, as parts of the August loading programmed were bid by European refiners, ahead of the fuel demand recovery. CFTC positioning is showing signs that the financial community is increasingly long crude futures…
