The European power spot prices climbed just above the clean gas costs yesterday on forecasts of lower temperatures and wind production. All coupled, the day-ahead prices climbed to 71.80€/MWh in Germany, France, Belgium and the Netherlands, +5.55€/MWh on average from the previous day. Despite a bullish opening, the EUA dec.21 contract quickly reversed after hitting…
Brent 1st-nearby prices edged down yesterday, but they remain elevated, above $71/b. WTI prices are slightly below $69/b. Prices were dragged down by a strong dollar and the further sharp decline in US crude inventories was accompanied by a surge in product stocks. But in parallel, Saudi Arabia increased prices for its Asian consumers more…
European spot gas prices resumed their rise yesterday, mainly supported by lower pipeline supply. Indeed, Norwegian flows dropped significantly yesterday, averaging 265 mm cm/day, compared to 281 mm cm/day on Wednesday, following additional maintenance works at the Karsto terminal. As for Russian flows, they remained stable once again, at 332 mm cm/day on average. The…
Strong economic indicators pushed US bond yields and the USD higher yesterday. The US job report released today could reinforce these trends if it shows a sharp rebound in job creation in May or revises April data upwards, as it is likely. The EUR/USD exchange rate plunged by nearly 1 USD, just above 1.21. Share…
Except in Germany where prices posted slightly stronger losses on forecasts of higher wind output, the European power day-ahead prices remained mostly unchanged yesterday. Less coupled than the previous days, the prices reached 66.57€/MWh on average in Germany, France, Belgium and the Netherlands, -0.31€/MWh day-on-day with the German prices eroding 4.72€/MWh from the previous day.…
