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…
Crude oil prices remained stable on Thursday, at 63 $/b for the prompt ICE Brent contract. Looking at refined products, prompt ICE gasoil crack is now above 5 $/b and slow recovery from last month’s slump. Low physical spot prices globally triggered Indian buyers to bid on West African cargoes. Biodiesel prices in the US…
The EUR/USD exchange rate closed above 1.19 and its 200-day moving average yesterday. Reassuring words from the Fed chairman and the release of the account of the last ECB meeting left the impression that the Fed was more determined than the ECB to pursue an ultra-accommodating policy. US bond yields fell further, the 10y nearing…
