The European power spot prices remained overall stable yesterday as the expectations of increased French nuclear generation offset the forecasts of slightly weaker wind and solar production. The day-ahead prices hence reached 80.31€/MWh, +0.92€/MWh day-on-day. The EUAs extended their retreat at the market open yesterday as supply concerns and a weak auction continued to pressure…
ICE Brent prices reversed to 72.6 $/b, as the dollar surged against other currencies, due to the more hawkish US macro policy outlook. Interestingly, time spreads at the prompt climbed higher during this event, still valued at 80 cents at the prompt, as fundamentals were not affected by macroeconomic policy. WTI-Brent spreads reversed slightly but…
Falling LNG sendouts since the beginning of June in NW Europe (see the graph in our Daily Gas section) and steady gas-to-power demand notably for cooling purposes dragged European prompt gas prices higher on Thursday after two days of easing. Planned maintenance work at the Dutch Gate LNG terminal and the French Fos Cavaou LNG terminal have cut…
Long-term bond yields have erased most their post Fed-meeting rise yesterday but the rise persists on shorter-term maturities. This reflects expectations that the Fed should tighten its policy sooner than expected and therefore be able to keep inflation under control. The equity market resisted well in this context. US tech stocks even rebounded. The USD…
As expected, the European power spot prices faded yesterday amid forecasts of significant wind and solar output, although the way-above average temperatures maintained a strong power for cooling demand and hence limited the downside potential. The day-ahead prices reached 79.40€/MWh in Germany, France, Belgium and the Netherlands, -7.43€/MWh day-on-day. After a bearish opening, the carbon…
