The European power spot prices remained mostly stable yesterday amid forecasts of lower temperatures and wind output but stronger hydro generation. Prices reached 56.71€/MWh on average in France, Germany, Belgium and the Netherlands, +0.58€/MWh from Monday but still below the clean coal costs. The dropping temperatures continued to strengthen the French power consumption which increased…
European gas prices weakened again yesterday as profit taking continued to exert downward pressure. The drop in parity prices with coal for power generation (both EUA and coal prices were down) provided additional downward pressure, particularly for curve prices. On the pipeline supply side, due to maintenance works at the Aasta Hansteen gas field, Norwegian…
Brent futures prices recovered as of early Wednesday, at 68.8 $/b as the API survey showed a surprise draw in crude oil stocks, demonstrating a faster rebalancing of the US crude market. Japanese weekly statistics showed a continued recovery in refining runs. Imports were likely up as commercial crude stocks rose by 1 mb. European…
Financial markets should remain rather cautious today ahead of the end of the Fed meeting. We do not expect any policy change, but the tone of the statement and comments from Jerome Powell will be closely monitored. Inflation expectations continue to rise, pushing US bond yields and the USD higher. The European Union lives in…
The European power spot prices climbed back above the clean gas costs yesterday, lifted by the forecasts of weaker wind output and lower temperatures. Prices hence reached 56.13€/MWh on average in Germany, France, Belgium and the Netherlands, +1.97€/MWh from Friday. The colder weather strengthened the French power consumption on Monday which rose by 1.97GW from…
