With unchanged fundamentals (temperatures are expected to drop gradually, falling briefly below normal during the weekend), European spot gas prices were mixed yesterday. The trend was more clearly bearish for curve prices, which ignored the rise in parity prices with coal for power generation (following higher EUA and coal prices). On the pipeline supply side,…
Brent prompt future contract remained pressured, at 63 $/b, as the OPEC meeting cycle started with the JMMC’s technical meeting yesterday. At the same time, the API survey showed large draws in product stocks and builds in crude stocks, in line with our forward crude balances. US refining runs surprised to the downside. On the…
The power spot prices slightly fade in northwestern Europe yesterday on the back of forecasts of higher wind output, nuclear availability and temperatures. Prices reached 51.77€/MWh on average in Germany, France, Belgium and the Netherlands, -1.54€/MWh day-on-day. The French power consumption edged up by 0.11GW to reach 59.52GW on average on Tuesday. The nuclear production…
Lael Brainard who was expected to take over as head of the US Treasury and may be the next Fed chief was the first Fed member to express worries about a too quick rise in bond yields. It could delay the reduction in the pace of asset purchases she said, which helped calming down renewed…
As expected, the European power spot prices continued to rise yesterday, lifted by forecasts of weaker wind output and French nuclear availability. Prices reached 53.30€/MWh in France, Germany, Belgium and the Netherlands, +3.73€/MWh dod. The French power consumption strengthened by 2.85GW from Friday to 59.41GW on average. The nuclear production fell by 3.91GW to 39.21GW…
