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…
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…
