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…
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…
