The European power spot prices fell yesterday amid pressure from forecasts of strong renewable production and a drop in clean gas and coal costs as a consequence of the plunging gas and carbon markets. Prices reached 69.02€/MWh on average in Germany, France, Belgium and the Netherlands, -7.88€/MWh day-on-day. EUAs plunged by 6.4% and below 50€/t…
ICE Brent prompt contract collapsed to 66.6 $/b as the dollar strengthened, while prompt time spreads remained subdued at 15 cents, reflecting a balanced spot equilibrium. Iranian talks for rejoining the JCPOA appeared to be promising according to European diplomatic officials, while Indian refiners suggested that they were keen to make room for Iranian barrels…
European gas prices crashed yesterday, both on the spot and the curve, extending their previous session’s sharp losses. The market ignored the drop in Norwegian flows, which averaged 269 mm cm/day, compared to 286 mm cm/day on Tuesday, due to unplanned outages. Russian flows were stable, at 331 mm cm/day on average. It took direction from…
The Fed Minutes included a key sentence showing that some members are ready to start discussing the tapering of bond purchases, provided the economic recovery is being confirmed. Bond yields rebounded, the USD as well and US equities posted their 3rd straight decline. These movements remained limited nevertheless, far from the collapse of crypto-currencies, with…
The European power spot prices edged up yesterday amid forecasts of lower temperatures and wind output, although the increasing French nuclear availability may have limited the gains. Prices climbed back above the clean gas and coal costs which dropped alongside the falling gas and carbon prices to reach 76.90€/MWh on average in Germany, France, Belgium…
