Forecasts of below average temperatures and wind output shortage lifted the European power spot prices for today which reached 61.60€/MWh on average in German, France, Belgium and the Netherlands, +10.34€/MWh from Friday and +12.02€/MWh week-on-week. The dropping temperatures strengthened the French power consumption on Friday which rose by 2.03GW from the day prior to 60.60GW…
European gas prices extended gains on Friday, mainly supported by the drop in temperatures below normal, a situation now expected to last until at least the middle of this week. The rise in Brent, JKM and parity prices with coal for power generation (the increase in EUA prices offset the drop in coal prices) provided…
After a bull run placing Brent prompt price below 70 $/b on Friday, the rally continued on Monday as Saudi top intelligence officials reported a failed drone strike by the Houthis on the Ras Tanura oil farm. Ras Tanura is the key chokepoint of the global oil supply, with 3.5 mb/d of export capacity. On…
Given the context, it seems strange to see the US 10y below 1.6% this morning. The US economy added 379k new jobs in February, the Senate voted the $1.9tn stimulus package and Brent prompt prices topped $70/b after Houthis attacked the main Saudi oil site (see the Daily Oil for a comprehensive analysis). Chinese trade…
The European power spot prices edged down yesterday, possibly weighed by the expectations of improved nuclear availability and higher hydro production, although the forecasts of weaker wind output and lower temperatures may have limited the losses. Prices hence reached 51.26€/MWh on average in Germany, France, Belgium and the Netherlands, -2.87€/MWh day-on-day. The French power consumption…
