European spot gas prices increased strongly yesterday, supported by higher gas demand due to the drop in temperatures below normal and lower wind power generation. The rise has spread to curve prices, which received additional support from the rise in Asia JKM prices and parity prices with coal for power generation (both EUA and coal…
Crude oil, US gasoline and diesel prices declined on early Tuesday as the pipeline operator announced that transport capacity should be restored by the end of the week, while it started to operate a subsection of the line manually to flow product inventories to the East coast. Gulf Coast refiners are already cutting gasoline and…
It’s paradoxical but the poor US jobs report has brought inflationary fears back to the forefront of market concerns. The Nasdaq plunged by 2.6% yesterday on worries about the consequences of higher interest rates on expensive stocks’ valuation. Market measures of inflation expectations or surveys all reflect these fears, but the bond market stays calm,…
Forecasts of warmer temperatures and stronger solar production pressured the European power spot prices for today, although the expectations of slightly weaker wind generation and French nuclear availability limited the losses. Prices reached 57.91€/MWh on average in Germany, France, Belgium and the Netherlands, -13.65€/MWh from Friday. Lifted by strong speculative buying, soaring equities and a…
ICE Brent prompt prices were supported at 68.8 $/b by a rapidly weakening dollar and the shut down of the US colonial pipeline on Friday evening, which transports about 2.5 mb/d of petroleum products through the US from the Gulf Coast to the East Coast. Tankers were already being chartered as soon as Saturday to…
