Financial markets are rather calm in general, with limited moves on equities, bonds and FX. The EUR/USD exchange rate has edged down but remains not far from 1.21, around 1.2075. Key economic reports are coming this week as well as a Fed meeting and the presentation by Mr. Biden of his American Families Plan that…
The European power spot prices for today are slightly lower than Friday’s, torn between an upward revision of temperature forecasts, expectations of improving French nuclear availability and weaker wind output prospects. Very close compared to the large discrepancies observed last week, the prices averaged 60.24€/MWh, -2.70€/MWh from Friday. The EUA prices took a breath from…
ICE Brent prompt contract declined to 65.3 $/b, on early Monday, as Indian demand continued to be the key downside risk, as mobility data continued to show larger oil demand destruction ahead. March’s European refining data was revised down, as refining throughput was recorded at 8.2 mb/d. European margins eased, as gasoline cracks were likely…
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…
