ICE Brent prompt month reached 67.1 $/b on early Thursday, as the dollar continued to weaken and new data on the Chinese refining sector showed sustained activity throughout March. Light sweet crude prices in Asia are getting a boost from the increasingly uncompetitive European and African crude, as the EFS swap continues to be above 3$/b, favouring sour…
The European power spot prices faded further yesterday, weighed by the warming weather and forecast of slightly stronger renewable production and higher nuclear availability. Prices reached 64.29€/MWh on average in Germany, France, Belgium and the Netherlands, – 3.68e/MWh day-on-day with prices ranging from 61.18€/MWh in the Netherlands to 74.32€/MWh in France. The EUAs presented a…
European gas prices increased yesterday, supported by the downward revision of temperatures for the end of next week (initially, they were expected to increase above normal) and the relative weakness of pipeline flows. Indeed, Russian flows were down yesterday, at 322 mm cm/day on average, compared to 329 mm cm/day on Wednesday. Norwegian flows were…
Thanks to a huge basis effect, China’s GDP growth soared to +18.3% yoy, but the economy actually slowed down in Q1. Monthly economic reports suggest domestic demand was recovering at the end of the quarter. Bond yield kept on falling yesterday, despite extremely robust US figures, which raises many unanswered questions. The EUR/USD exchange rate…
The power spot prices edged down in north western Europe yesterday, pressured by forecasts of slightly warmer temperatures and stronger renewable production. Prices averaged 67.97€/MWh in Germany, France, Belgium and the Netherlands, -4.13€/MWh dod with prices ranging from 66.57€/MWh in the Netherlands to 74.32€/MWh in France. After a slightly bullish morning, the EUA started top…
