ICE Brent prices dipped on Monday as European countries such as France, Germany and Italy stopped vaccination campaigns with AstraZeneca’s vaccine, concerned by potential side effects. The delayed economic recovery puts pressure on product margins, especially ICE gasoil cracks. Iranian crude oil exports smuggled to China are now expected to reach 1 mb/d in March…
European gas prices dropped yesterday, pressured by the (slight) upward revision of temperatures for this week. The drop in 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 increased slightly yesterday, at 340 mm cm/day on average,…
The main EU countries have suspended the AstraZeneca vaccine over concerns it may cause blood clots. This is another blow to the vaccination campaign in the EU that has gone from bad to worse since the beginning. It adds to delivery problems already encountered in particular for this vaccine. Moreover, confidence in the AstraZeneca vaccine…
The European power spot prices for today rebounded compared to Friday amid forecasts of lower temperatures and dropping wind output. Prices reached 50.35€/MWh on average in Germany, France, Belgium and the Netherlands, +13.97€/MWh from Friday but -11.25€/MWh from the previous Monday as the wind production should be stronger today. The French power consumption slightly eased…
ICE Brent prompt contract was trading at 69.7 $/b on Monday as most Texan refineries were restarted over the weekend. Furthermore, Chinese crude processing in January and February remained strong, at 14.13 mb/d, slightly above our forecasts as fuel consumption during the Lunar New Year break remained strong. Share this news : Share on twitter…
