US tech stocks reached new record-high levels, but the trend is rather downward on equity markets, bond yields have edged lowed and the USD has strengthened a bit, which overall reflects a more cautious sentiment, mainly linked to travel restrictions imposed by the Delta variant. The EUR/USD exchange rate is trading near 1.1920. Share this…
European gas prices ended the week on another bullish note on Friday, supported by the delayed start-up of production at the Asgard field in Norway after seasonal maintenance (15 mm cm/day impact), low wind power generation and a further drop in LNG regas flows from NW Europe import terminals. The TTF ICE July-21 contract settled…
The power spot prices in northwestern Europe for today remained almost steady compared to Friday as the slightly weaker French nuclear and hydro generation should offset the rising wind and solar production. The day-ahead prices hence reached 88.39€/MWh on average in Germany, France, Belgium and the Netherlands, only +0.23€/MWh from Friday but +10.76€/MWh from the…
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…
