European gas prices increased again yesterday, supported by forecasts of lower temperatures from tomorrow with levels expected to drop significantly below normal next week. While European storage sites flipped to net injection mode on 26 March, this could force them to return to a withdrawal mode. With European stocks only 30% full on 30 March (compared…
Biden’s $2.3 trillion recovery plan boosted growth expectations in the US, pushing stocks higher globally. US Treasuries were under pressure, with the 10Y yield climbing at 1.753%. European stocks continued to underperform, with declines on the FTSE, CAC and DAX as France extended the regional lockdown nationally. Share this news : Share on twitter Share…
The European power spot prices edged up amid forecasts of a wind shortage for today, although limited by the way above average temperatures. Prices reached 57.14€/MWh on average in Germany, France, Belgium and the Netherlands, +2.11€/MWh day-on-day. Despite a bearish opening, the EUA prices rebounded on Tuesday morning, supported by early gains in the European…
European gas prices rebounded on Tuesday, supported by colder temperature forecasts for early April, concern over potential delays in LNG deliveries due to the Suez Canal blockage and steady EUA prices. A downward correction in coal prices, a sharp drop in gas demand over the past few days due to unseasonably mild weather across Europe…
ICE Brent prompt month contract reached 64.6 $/b on early Wednesday, ahead of OPEC’s ministerial meeting, as most market observers expect OPEC to roll over the current production agreement, maintaining a tight grip on supply. The API survey showed indeed that OPEC’s return to the market was premature, with builds crude stocks close to 4…
