In a rather quiet trading session as the UK market was closed, continental Europe gas prices rebounded yesterday as the bearish impact of the rise in temperatures started to fade. The rise in Asia JKM prices and in parity prices with coal for power generation (thanks to the increase in EUA prices) and technical buying…
ICE Brent prompt prices hiked to 70.3 $/b at the prompt, ahead of the OPEC meeting, as OPEC compliance in April remained good, at 122%, according to production surveys realized by third parties. Saudi Arabia and Iraq showed the biggest increases, while Iran and Nigeria experienced setbacks on their production facilities. Russian crude and condensate…
Brent prompt prices are above $70/b ahead of the OPEC+ meeting (see the Daily Oil), which pushes inflation expectations and bond yields higher. Gold prices are on the rise too. The equity market resists well, as in parallel, activity is strongly recovering in the US, Europe and China. The euro posted gains vs the USD…
ICE Brent prompt prices traded at 69.1 $/b on early Monday, after a strong expiry for ICE Brent contracts. Crude stocks globally are dipping at an accelerated rate, in line with seasonal patterns and the start of the driving season. On the refined product side, the divide between tight US markets and rising European stocks are…
European gas prices extended (moderately) losses on Friday as the rise in temperatures continued to exert downward pressure. The drop in Asia JKM prices and in parity prices with coal for power generation (the drop in EUA prices offset the rise in coal prices) also provided some additional downward pressure. On the pipeline supply side,…
