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.…
The ECB meeting had little impact on markets. The reduction in bond purchases was not even discussed Mrs. Lagarde said. The European markets welcomed the news, but Wall Street plunged after a Bloomberg news according to which a big tax hike on capital gains is included in the next economic package of the White House.…
The European power spot prices dropped further yesterday as the wind output is expected to continue surging today, although the forecasts of slightly colder temperatures (except in France) may have limited the losses. Prices reached 57.83€/MWh on average in Germany, France, Belgium and the Netherlands, – 5.79€/MWh day-on-day with prices ranging from 45.90€/MWh in Germany…
