ICE Brent crude prompt future dipped to 67.7 $/b after a reaching 71$ yesterday following the Houthis attack on Ras Tanura terminal. With no material impact on the Saudi oil infrastructure, the rally was poised to be short-lived. Yet, this could be a new hindrance to the normalization of the US-Iran relationship. The current softness…
European spot gas prices were mixed yesterday, torn between conflicting fundamentals. Temperatures fell below normal, but they are expected to rise significantly from Thursday. On the pipeline supply side, due to maintenance works, Norwegian flows weakened yesterday, averaging 316 mm cm/day, compared to 323 mm cm/day on Friday. Russian flows were stable, at 323 mm…
Higher bond yields and stronger growth expectations are driving investors away from assets that have benefited from the crisis to assets that have been left behind. The Nasdaq lost 2.5% again yesterday. Bond yields seem stabilizing for the time being nevertheless, which may offer some respite. The USD kept on strengthening, pushing the EUR/USD to…
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…
