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…
The European power spot prices edged down yesterday as the forecasts of stronger solar production offset the expectations of slightly higher power demand and weaker wind output. Prices reached 76.62€/MWh on average in Germany, France, Belgium and the Netherlands, -0.73€/MWh day-on-day. Monday morning was marked by a technical issue induced by the ICE moving the…
The market is already in a wait-and-see mode before the ECB meeting and, above all, the release of May US inflation figures on Thursday. The Fed meeting will then follow next week. Limited market moves yesterday. The EUR/USD exchange rate was up, but then gave up some of its gains to trade around 1.2180 this…
