Prices weakened yesterday in most European gas markets, still pressured by above-normal temperatures whose impact exceeded that of supply volatility. Moreover, the drop in EUA prices (which reduced parity prices with coal for power generation) provided additional downward pressure. On the pipeline supply side, Norwegian flows rebounded yesterday, averaging 318 mm cm/day, compared to 304…
Brent prompt future contract reached 65 $/b yesterday, as the Texas energy crisis continues with the 5th day of disruption and a growing concern that oil production could take a longer time to restart than refining runs. On top of that, the American Petroleum Institute reported a large crude draw for the week prior to the cold…
US retail sales posted a strong rebound in January while industrial activity remained solid. This can only reinforce doubts about the relevance of a recovery plan as massive as the one the White House wants to put to the vote. This can only fuel inflation expectations as well. The spread between inflation expectations in the…
The European power spot prices slightly decreased yesterday, weighed by forecasts of higher wind output and milder weather. Prices eroded 2.48€/MWh to reach 49.73€/MWh on average in Germany, France, Belgium and the Netherlands. The French power consumption continued to ease with the warming temperatures and faded to 67.99GW on average on Tuesday, -4.72GW day-on-day. The…
Prices rebounded yesterday in most European gas markets, supported mainly by the sharp drop in Norwegian flows (304 mm cm/day on average, compared to 338 mm cm/day on Monday) due to an unplanned outage at the giant Troll field. Russian flows on their side were stable, at 315 mm cm/day on average. Additional support came…
