ICE Brent prompt contract eased to 69 $/b, as EIA released a slightly less bullish set of numbers compared to the API survey for the US petroleum market. US crude stocks were still depleted by 8 mb, as refineries ramped up by 0.2 mb/d w/w. Saudi OSPs to Asia for June shipments were set lower…
European spot gas prices extended gains overall yesterday. In addition to above-normal demand, lower pipeline supply contributed to tighten gas systems further. Indeed, due to several additional maintenance works, Norwegian flows dropped to 282 mm cm/day yesterday, compared to 302 mm cm/day on Tuesday. Russian flows remained stable at 331 mm cm/day on average. Curve…
There is a BoE meeting today. While some expect some changes in its QE policy, the consensus remains on stability. One after the other, Fed members are also starting to talk about a decrease in asset purchases. While that may mean that rate hikes may come sooner than expected, this also lowers the long-term inflation…
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…
