European gas prices dropped yesterday, pressured by the expected rise in temperatures next week. The sharp drop in oil prices and the more moderate drop in parity prices with coal for power generation (thanks in particular to lower EUA prices) provided additional downward pressure, particularly for curve prices. On the pipeline supply side, Norwegian flows…
The collapse in refining margins was a prelude to the significant downward correction experienced on Brent and WTI markets. Crude prices dipped by more than 3 $/b within a day, as worries about crude and product demand were finally reflected in crude prices. European COVID policies continue to under-deliver, with the delay of the vaccination…
The initial markets’ reaction to the Fed’s optimistic and dovish message at the same time was positive on Thursday but it looks like they thought twice about it yesterday. Bond yields surged higher, the US 10y reaching 1.75%. Oil prices plunged and US equity markets did the same eventually, followed by most Asian indices overnight.…
The Power spot prices rose further up in northwestern Europe yesterday, pushed by the forecasts of weaker wind production and colder temperatures. The prices in Germany, France, Belgium and the Netherlands finally climbed above the clean coal costs to reach 64.33€/MWh on average, +7.63€/MWh day-on-day. Despite the colder weather, the French power consumption slightly eased…
Prices rebounded yesterday in most European gas markets, supported by higher heating demand due to below-normal temperatures and lower pipeline supply. Indeed, due to maintenance works, Norwegian flows dropped again yesterday, to 310 mm cm/day on average, compared to 325 mm cm/day on Tuesday. Russian flows were almost stable, averaging 325 mm cm/day, compared to…
