Brent prompt future contract climbed to 63.6 $/b on early Wednesday, as the Texan energy crisis continues to wreak havoc on the state’ oil infrastructure. With the whole Midwest region is also affected by cold temperatures, losses in refining capacity are estimated at 4 mb/d in the US. Japanese crude stocks fell amid a rise…
The fall in bond prices is accelerating, which means bond yields are on the rise. The US 10y reached 1.33%, 42 basis points above its level at the start of the year. They are good reasons for that: the fall in global Covid cases, especially in the US, the vaccination campaign and prospects of strong…
Brent prompt future contract came back to 63.5 $/b on early Tuesday, as Texas’ cold snap affected the US petroleum markets in unpredictable ways. WTI-Brent spreads collapsed, likely caused by lower US refining runs, pushing crude stocks higher in the short term. The two fields Troll and Johan Sverdrup in Norway were expected to shut…
The European power spot prices slightly rose yesterday on expectations of weaker wind generation and nuclear availability, despite the milder weather prospects. Prices reached 52.21€/MWh on average in Germany, France, Belgium and the Netherlands, +1.42€/MWh day-on-day. The warmer temperatures strongly dampened the French power consumption which dropped by 5.81GW from Friday to 72.71GW on average.…
European gas prices dropped sharply yesterday, pressured by the sharp rise in temperatures above normal and expectations of stronger LNG supply to Europe in the coming days. The sharp drop in coal and EUA prices (which reduced parity prices with coal for power generation) provided additional downward pressure, particularly for curve prices. On the pipeline…
