The European power spot prices for today reached a level close to Friday as the market was torn between expectations of a demand strengthened by the lingering below-normal temperatures and forecasts of slightly higher wind, solar and nuclear output. The day-ahead prices averaged 71.99€/MWh in Germany, France, Belgium and the Netherlands, +0.18€/MWh from Friday. The…
ICE Brent prompt month contract recovered to 68.5 $/b on Friday amid a rapid recovery of the Eurodollar, and a global recovery in equity prices as US bond yields declined back to 1.6%, despite widespread inflation concerns. Indian demand for the first part of May was likely to be down by 30%, compared to May…
European spot gas prices increased again on Friday, still supported by below-normal temperatures and relatively weak pipeline supply. Indeed, although Norwegian flows firmed up on Friday, averaging 293 mm cm/day, compared to 289 mm cm/day on Thursday, they were still below the 315 mm cm/day of early May, a source of concern at a time…
The rebound in new Covid cases in some Asian countries and in the UK is a threat for the current economic recovery. In the US, this is more the slippage in inflation that could derail the recovery in the short-term. Consumers are starting to show clear signs of worry and the Fed is probably less…
The European power spot prices rebounded yesterday, supported by forecasts of weak wind production, below-normal temperatures and an increased power demand compared to the Ascension Day. Prices reached 71.81€/MWh on average in Germany, France, Belgium and the Netherlands, +0.07€/MWh day-on-day. The EUAs sky-rocketed to a new high above 55€/t on Wednesday as the carbon market…
