ICE Brent crude prompt contract remained under pressure, at 62.7 $/b, as gloomier economic prospects and low volatility dented financial flows in the market, with money managers exiting the market at a fast pace. Indian refined product sales declined by 0.1 mb/d in March when it is usually a strong month for Indian oil demand.…
The European power prices climbed above the clean coal costs for today, lifted by forecasts of below normal temperatures strengthening the power demand and limited wind and solar generation. Prices reached 65.33€/MWh on average in Germany, France, Belgium and the Netherlands, +3.80€/MWh from Friday. The EUAs traded rangebound on Friday with rather thin exchanged volumes,…
European spot gas prices were mixed on Friday, receiving a slight support from lower pipeline flows. Indeed, Russian flows dropped significantly on Friday, at 286 mm cm/day on average, compared to 324 mm cm/day on Thursday, following a partial interruption of Yamal flows (which finally averaged 42 mm cm/day on the day, down from 81…
European gas prices weakened again yesterday, still pressured by lower heating demand due to rising temperatures. The drop in parity prices with coal for power generation (both EUA and coal prices were down) provided additional downward pressure. On the pipeline supply side, due to planned and unplanned works, Norwegian flows were down yesterday, averaging 336…
The European power spot prices steadied yesterday, torn between forecasts of lower wind generation and weaker demand. The prices hence averaged 61.53€/MWh in Germany, France, Belgium and the Netherlands, -0.94€/MWh day-on-day. Ignoring for once the bullish signals from the financial markets, the EUAs extended their retreat on Thursday, likely pressured by the weaker energy complex and…
