Crude oil prices pulled back to 66.3 $/b as the exponential growth of the pandemic in India continued to lower demand expectations for the third-biggest crude oil importer. The API survey showed a small build in crude stocks as US refining throughput declined slightly while gasoline inventories dropped by 1.6 mb. Japanese runs continued to…
At least the movements on the financial markets were consistent yesterday. Equity markets were down and even sharply down in Europe. In parallel, after an initial increase nevertheless, bond yields registered a marked fall, the US 10y touching a 5-week low (price at a 5-week high). In a context dominated by risk aversion, the USD…
The power spot prices remained quite stable in north western Europe yesterday amid forecasts of steady demand, nuclear availability and renewable production. Prices reached 76.30€/MWh on average, +0.14€/MWh day-on-day and ranging from 72.80€/MWh in the Netherlands to 81.14€/MWh in France. EUAs climbed to a new record high of 44.95€/t yesterday morning in another attempt to…
European gas prices extended gains yesterday, still supported by tight domestic fundamentals. The strong rise in Asia JKM prices provided additional support, offsetting the drop in parity prices with coal for power generation (both coal and EUA prices were down). On the pipeline supply side, Russian flows were up yesterday, at 328 mm cm/day on…
Crude prices continued to be lifted by a declining US dollar, while the Libyan national oil company declared force majeure on its Hariga port due to budget disputes with the country’s central bank. Backwardation levels on the Brent curve are now at healthy levels to incentivize stock draws. Share this news : Share on twitter Share on…
