European gas prices extended gains yesterday, still supported by the drop in temperatures. On the pipeline supply side, Norwegian flows were stable yesterday, at 329 mm cm/day on average. Russian flows were slightly lower, averaging 318 mm cm/day, compared to 320 mm cm/day on Wednesday. The rise in oil and Asia JKM prices provided additional…
Crude prices remained range-bound for the end of this week, at around 69.5 $/b as the dollar eased due to improving prospects for European economies. The US stimulus package is expected to bring higher gasoline consumption in the US. High retail prices for Indian driver is starting to have an effect on the nation’s recovery,…
The ECB has already started to increase its asset purchases in order to address rising bond yields. There has been a curious respite on the US bond market in the wake of the vote of the stimulus package but yields are up again, while the move is smaller in the euro area, thanks to the…
The surging wind output over central western Europe combined with above-average temperatures and rather inflexible nuclear generation strongly pressured the power spot prices yesterday. The Belgian day-ahead contract presented the deepest fall (down to 0.25€/MWh on average, -48.02€/MWh day-on-day) with prices dropping as low as -51.50€/MWh for the 12am-1pm hour. In Germany, France and the…
Crude prices remained broadly steady as the EIA weekly snapshot reflected a growing discrepancy between US crude oil and fuel markets with a net build in inventories of 1.3 mb. Similarly to last week, recovering refining runs in Texas was unable to follow the pace of crude production or fuel demand, leading to a 13.8…
