European spot gas prices were mixed yesterday, torn between the bullish effect of the ongoing blockage of the Suez Canal and the bearish effects of rising temperatures and more comfortable Norwegian supply. Indeed, Norwegian flows increased yesterday to 337 mm cm/day on average, compared to 331 mm cm/day on Wednesday. Russian flows were stable, averaging…
The European power spot prices remained rather stable yesterday, slightly up in Germany, Belgium and the Netherlands on forecasts of lower wind production while French prices edged down amid expectations of better nuclear availability and stronger hydro generation. Prices reached 58.01€/MWh on average in the four countries, +0.93€/MWh day-on-day. After a bearish morning, the EUA…
Brent 1st-nearby prices posted a $4/b gain yesterday. WTI prices did about the same. They respectively ended the day above $64.5/b and $61.2/b, therefore erasing their losses of the previous day. The main reason was the Suez canal still blocked by a giant ship that has deviated from its course for unclear reasons. Then, the…
The sharp rise in the euro area PMIs as well as the consumer confidence indicators is at odds with the current narrative concerning the euro area. It may actually reflect the fact that lockdown measures are increasingly bypassed and, without any surprise, less and less efficient to stop the pandemic. Hopes are now fully placed…
European spot gas prices were mixed again yesterday as fundamentals gave no clear trend. On the supply side, Norwegian flows were almost stable yesterday, to 331 mm cm/day on average, compared to 332 mm cm/day on Tuesday. The same for Russian flows, which averaged 328 mm cm/day, compared to 329 mm cm/day on Tuesday. As…
