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…
The power spot prices edged up yesterday as the forecasts of dropping wind output were offset by the expectations of weaker power demand and strong solar generation. Prices hence climbed by 4.99€/MWh on average from the previous day in Germany, France, Belgium and the Netherlands to reach 88.96 with the German and Netherlands prices climbing…
ICE Brent prompt contract rose to 75.4 $/b on early Wednesday, after steep crude stock draws forecasted by the API survey in the US, especially in Cushing, at the WTI pricing point. Japanese refining runs struggle to ramp up, despite the imminent start of the Olympics. According to government statistics, Indian refiners processed less crude…
