Crude oil prices continued on their downward trend, dropping to 63.5 $/b on Monday for ICE Brent prompt month contract. The continued drop from earlier this week and Monday was mainly attributed to worsening sentiment around European fuel demand, as EU vaccination stalled for a week and lockdowns resumed in Western Europe. The continued strengthening…
The European power spot prices for today are slightly up compared to Friday and back above the clean gas and coal costs, supported by forecasts of stronger power demand and weaker French nuclear availability. Prices reached 60.54€/MWh on average in Germany, France, Belgium and the Netherlands, +5.37 from last week’s last working day. The French…
European gas prices continued to weaken overall on Friday, still pressured by the expected rise in temperatures this week. The drop in Asia JKM prices and parity prices with coal for power generation (thanks to lower EUA prices) provided additional downward pressure, particularly for curve prices. On the pipeline supply side, Norwegian flows were slightly…
Turkish President Erdogan has gone back to his old practices by sacking the governor of the central bank, guilty of carrying out an overly restrictive monetary policy. The market reaction was not long to come: sharp fall in the Turkish lira and in domestic equities. Turkey should not remain an isolated case: with the rise…
The power spot prices eroded 9.17€/MWh to reach 55.15€/MWh on average in Germany, France, Belgium and the Netherlands, pressured by forecasts of stronger renewable production. The below-average temperatures continued to strengthened the French power consumption which rose by 2.16GW from Wednesday to reach 64.43GW on average. The country’s nuclear generation improved as well by 0.56GW…
