ICE Brent futures contracts remained broadly stable, at 63 $/b, after regaining from Monday’s price slump. The talks to revive the Iranian nuclear deal were constructive according to attendants. The sanctions liftoff could bring extra supply to a market struggling to clear at the prompt. in the short term, crude prices were supported by a…
European gas prices increased significantly yesterday, supported by the sharp drop in temperatures. The rise in parity prices with coal for power generation (due to the strong rise in EUA prices) provided additional upward pressure. On the pipeline supply side, Norwegian flows were slightly down yesterday, averaging 346 mm cm/day, compared to 348 mm cm/day…
US equities edged down after their strong rally, but European equities kept on increasing, even erasing all their pandemic losses. Risk appetite was supported by further fall in bond yields, the US 10y even trading 10bp below its peak of last week, which looks a bit strange given the economic news flow in the US.…
ICE Brent futures contracts recovered to 63 $/b on early Tuesday, after Monday’s price crash, with ICE Brent prompt future losing 4.2%. The loss was likely caused by increasing downside risk on demand, as France implemented a third nationwide lockdown and India reached record levels of cases reported within one day, pointing towards further lockdowns…
European gas prices were generally up again last Thursday, supported by falling temperatures and lower Norwegian supply. Indeed, due to an unplanned outage at the Oseberg gas field, Norwegian flows dropped significantly on Thursday, averaging 314 mm cm/day, compared to 337 mm cm/day on Wednesday. Russian flows were slightly down, at 327 mm cm/day on…
