Prospects of below-average temperatures in the coming two weeks, a tight supply picture and soaring coal and EUA prices pushed European gas prices further high on Tuesday. The coal API 2 Cal 2022 contract moved closer to the $80/t mark, mirroring a sharp increase in Chinese coal prices on worries of sustained tightness and strong demand ahead of the summer…
For the second day in a row, equity markets plunged yesterday on concerns about inflation, mainly in the US. The bond market was down as well (yields up), but more in the euro area, as there were big sovereign bond auctions, while expectations of reduction in the ECB’s bond purchases intensified. The FX market posted…
As expected, the European power spot prices rose further up yesterday amid forecasts of falling temperatures and renewable generation. The day-ahead prices in Germany, France, Belgium and the Netherlands all reached 72.17€/MWh, +14.26€/MWh on average from the previous day and just above the clean gas costs. The EUA prices climbed to new record above 52€/t…
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…
