European gas prices increased sharply yesterday, supported by cold weather and weak pipeline supply. Indeed, although they increased yesterday to 300 mm cm/day on average, compared to 286 mm cm/day on Friday, Russian flows were still below the 324 mm cm/day of Thursday as Yamal flows remained below their pre-outage level. As for Norwegian flows,…
Future crude prices strengthened on Monday to reach 63.5 $/b for ICE Brent prompt month contract, as the Houthis claimed a successful attack on Saudi oil infrastructure in Jeddah, unconfirmed by Saudis authorities. However, physical crude markets continued to weaken globally. Chinese crude data showed the first signs of a refining slowdown. Share this news…
No big thing yesterday on financial markets but a gradual increase in bond yields that seems to reflect caution ahead of key economic reports in the US, to begin with CPI data today. The surge in Chinese exports and imports on a yoy basis in March reflects basis effects: we are entering a period during…
The power spot prices were mixed in north western Europe yesterday, the 5 to 6°C below normal temperatures supporting the prices in France and Belgium while the forecasts of stronger wind output slightly pressured the German and Netherlands prices. Decoupled, the day-ahead contracts ranged from 54.15€/MWh in the Netherlands to 83.62€/MWh in France and up…
As the Fed chairman said during the week-end, the US economy is ready for a very strong recovery, but the economic outlook remains dependent on the pandemic evolution. He may have added that the inflation risk is not negligible either, even though the Fed never stops telling markets this is only going to be a…
