European gas prices fell sharply on Friday, pressured by the upward revision of temperatures and technical selling. The drop in Asia JKM prices and parity prices with coal for power generation (both coal and EUA prices were lower) provided additional downward pressure, particularly for curve prices. On the pipeline supply side, Russian flows were stable…
After a turbulent week, during which it focused on problems linked to vaccines and the catastrophic surge in the pandemic in India, the market seems calmer after the release of very encouraging PMI reports and ahead of a Fed meeting this week as well as corporate earnings that are expected to be good, especially for…
The power spot prices were mixed yesterday, up in Germany, Belgium and the Netherlands on forecasts of dropping wind output, but down in France as the country’s power production should ease today with the milder temperatures. Prices reached 62.94€/MWh on average in the four countries, +5.11€/MWh dod with contracts ranging from 61.63€/MWh in the Netherlands…
ICE Brent prompt contract hiked to 65.7 $/b, likely due to the sustained backwardation at the prompt. Physical differentials in West Africa continued to weaken, as the Nigerian state oil company lowered its official selling prices for its flagship crudes, as rising Brent-Dubai swaps forced producers to adjust their competitiveness to flow crude to the…
European gas prices were up overall yesterday, supported by the ongoing concerns on weak stock levels as gas storages remain in net withdrawal mode in most countries. The increase in Asia JKM prices and parity prices with coal for power generation (thanks in particular to strong EUA prices) provided additional support, particularly for curve prices.…
