The NW European power spot prices rebounded yesterday amid forecasts of easing wind output and colder temperatures. If the French prices received a stronger support from the colder weather due the country’s higher power-for-heating demand, prices in Germany only edged up as the significant solar generation expected in the country today limited the gains. Prices…
ICE Brent prompt prices jumped to 69.5 $/b, as the API survey showed a total decline of 16 mb. Due to large stock draws in gasoline and diesel stocks, combined with record-high prices for biofuel blending components, the US product cracks continued to rise, with RBOB gasoline cracks close to the 25$/b mark. Share this…
European spot gas prices increased yesterday, mainly supported by strong heating demand due to below-normal temperatures and production issues in the UK. Moreover, due to an unplanned outage at the Asgard gas field, Norwegian flows weakened to 302 mm cm/day yesterday, compared to 309 mm cm/day on Monday. Russian flows increased to 331 mm cm/day…
The equity market plunged yesterday, allegedly on comments from Janet Yellen that interest rates could rise as a result of massive stimulus packages in the US. The cause and effect link is far from being established and the market has been nervous for a while, especially in the tech sector. Besides, the bond and FX…
ICE Brent prompt prices rallied to 67.3 $/b, without significant fundamental change. The Dubai benchmark, pricing crude delivered to Asia, continued to weaken compared to European and US crude as the time structure of swaps rapidly worsened. Asian product cracks reacted differently to the Indian health crisis, as gasoil cracks remained supported and gasoline margins…
