European gas prices increased again yesterday, both on the spot and the curve. Prices continued to receive support from above-normal demand and weak pipeline supply, which tighten the gas systems and maintain net storage injections at relatively low levels. The rise in Asia JKM prices and in parity prices with coal for power generation (both…
The EUR/USD exchange rate is trading at its highest level since early February, above 1.2150, after US job creation came out much lower than expected in April: +266k vs 1 million. The equity market welcomed the figures, while bond yields edged up, in line with inflation expectations. Why? Because they validate the Fed’s accommodative stance.…
Strong gas, coal and EUA prices pushed European power curve prices further north on Thursday. Continued tightness in gas and coal supply as well as low inventories(only 30% fulness rate for EU gas stocks and ARA coal stocks down 40% yoy to4.3 mt) kept the fuel complex on a bullish trend. In the meantime, EUA…
ICE Brent prompt contract eased to 68.5 $/b. An OPEC+ internal document showed poor compliance in March, as the cumulative overproduction reached 3.3 mb/d. The main contributor remained Russia and Iraq, with a combined overproduction of 1.5 mb/d. India will purchase a regular volume of Saudi crude in June according to trading sources. Indian refiners…
European gas prices increased again yesterday, both on the spot and the curve. Prices continued to receive support from above-normal demand and weak pipeline supply, which tighten the gas systems and maintain net storage injections at relatively low levels. The rise in Asia JKM prices and in parity prices with coal for power generation (both…
