The power spot prices were mostly stable in northwestern Europe yesterday, remaining just below the clean gas costs as the contracts were torn between forecasts of stronger solar production, warmer temperatures and a lingering wind shortage. The day-ahead prices reached 76.26€/MWh in Germany, France, Belgium and the Netherlands, -0.35€/MWh day-on-day. The EUA prices rose on…
European spot gas prices increased sharply yesterday on tighter supply while the strong rise in temperatures is expected to stimulate air conditioning demand. The increase was particularly strong for Zeebrugge prices (+7.25% day-on-day), which are the most affected by the closure of the Interconnector pipeline for annual maintenance. Otherwise, Norwegian flows rebounded yesterday to 284…
ICE Brent prices hiked to 72.6 $/b, as US diplomats cast doubt on a rapid return to the market of Iranian barrels. The sour crude market hiked significantly over the last week against sweet crude markets. The API survey showed a decline of US crude stocks of 2 mb, while product stocks built by similar…
This was to be expected: market participants are waiting for tomorrow and the parallel releases of US inflation figures as well as the ECB’s decision on bond purchases. Meanwhile, very few notable news, although bond yields have lost some basis points, the US 10y falling to a 3-month low, below 1.52%. The EUR/USD exchange rate…
ICE Brent prices retreated at 71 $/b. North Sea markets continued to trade sideways compared to futures, as 3 cargoes of crude were still held in floating storage without any buyers. This tallied with a revision in Kpler inventories estimates, pointing to large crude builds over the last days. US imports are forecasted to jump by 1…
