Bad news in Continental Europe has triggered a broad reassessment of the global Covid situation and it is not good with both new cases and deaths on the rise (see the Graph of the Day). Successful vaccination campaigns in the US, the UK and Israel cannot hide the fact that a new wave is spreading…
The power spot prices in north western Europe were mixed yesterday, slightly up in Germany and France but a bit lower in Belgium and the Netherlands. Prices reached 61.11€/MWh on average in the four countries, +0.57€/MWh day-on-day. The French power consumption slightly eased compared to Friday due to the milder temperatures and reached 63.20GW (-1.10GW).…
European gas prices rebounded yesterday, supported by forecasts of colder weather in some countries and tight pipeline supply. The strong rise in parity prices with coal for power generation (both EUA and coal prices were up) provided additional upward pressure, particularly for curve prices. On the pipeline supply side, Norwegian flows were down yesterday, to…
Brent and WTI 1st-nearby prices are trading below $64/b and $61/b respectively this morning. Time spreads are reducing quickly, pointing to strong concern about short-term demand prospects, as the delay in the vaccination campaign in Europe threatens the summer touristic season. The consensus is also pointing to the fifth weekly increase in a row in…
The slight decline in US bond yields contributed to restore some calm on financial markets, but the trend was not confirmed in Asia overnight. As expected, the ECB stepped up its bond purchases last week, which prevented tensions on long-term interest rates. The Turkish currency and the stock market posted declines of around 10% in…
