The Nasdaq lost 2.5% yesterday for a cumulated loss of 4% since the start of last week. Inflation worries and the rise in bond yields are the main culprit, even if they are mainly linked to recovery prospects so far, as shown by the sharp rebound in the copper to gold ratio. The UK Prime…
The expectations of weaker nuclear availability and wind output supported the European power spot prices for today which rose to 49.08€/MWh on average in Germany, France, Belgium and the Netherlands, +1.45€/MWh from Friday’s prices. The French power consumption further eased by 1.96GW to 62.14GW on average over the last working day of the week. The…
European gas prices weakened on Friday, more sensitive to warmer weather than to relatively weak pipeline supply. Indeed, while Norwegian flows continued to recover, averaging 324 mm cm/day, compared to 321 mm cm/day on Thursday, they were still well below the 338 mm cm/day reached at the beginning of the week. Russian flows on their…
Brent prompt future contract came back to 63.5 $/b, after a weak session on Friday, as the forward crude balance resulting from the Texas energy crisis pointed towards lower US runs for an extended period of time. Indian refining runs topped 5.16 mb/d according to preliminary government data, as the nation’s demand fully recovered, except…
On the strength of the success of the vaccination campaign in the UK and the effects of containment, Boris Johnson will present today a crisis exit plan that everyone hopes will be definitive. Bond yields keep on rising, the US 10y nearing 1.4% now, while copper prices have reached a 9-year high. The EUR/USD is…
