European gas prices increased again yesterday, supported by weak pipeline supply and lower temperatures. Norwegian flows increased slightly yesterday, averaging 304 mm cm/day, compared to 302 mm cm/day on Tuesday, but still below the 324 mm cm/day of last Friday. Russian flows weakened to 262 mm cm/day on average, still significantly below the 319 mm…
Brent prompt future contract slipped back to 67.3 $/b as the lost US production was estimated to be at 1.1 mb/d for last week. The picture for petroleum products is looking increasingly bullish, as the US refinery runs dropped by 2.6 mb/d and could take a significant amount of time to resume. Japanese refinery utilization, dropped to…
Optimism was back with a vengeance on markets yesterday and the trend was confirmed in Asia overnight: stocks on the rise despite bond yields reaching new highs, higher commodity prices with the exception of safe-haven assets such as gold, lower USD, the EUR/USD nearing 1.22. The reasons are well known: recovery expectations reinforced by prospects…
The power spot prices dropped further in north western Europe yesterday amid forecasts of milder temperatures and stronger wind production. Prices fell by 8.49€/MWh to 36.56€/MWh on average in Germany, France, Belgium and the Netherlands. The 6°C above-average temperatures continued to dampen the French power consumption yesterday which dropped by 1.95GW from Monday to 55.83GW…
European gas prices rebounded yesterday, supported by lower pipeline supply and forecasts of lower temperatures. Indeed, due to a series of unplanned outages, Norwegian flows dropped again yesterday, averaging 302 mm cm/day, compared to 318 mm cm/day on Monday. Russian flows were stable, at 262 mm cm/day on average, but still significantly below the 319…
