The European power spot prices dropped significantly yesterday amid forecasts of stronger wind output, weaker demand and lower gas prices. Prices eroded 18.33€/MWh from Wednesday to 60.81€/t on average in Germany, France, Belgium and the Netherlands. The plunging gas prices also pressured the clean gas costs which fell by 2.87€/MWh to 51.81€/MWh for power plants…
European gas prices dropped again yesterday, still pressured by expectations of higher temperatures and stronger LNG supply to Europe in the coming days. The drop in parity prices with coal for power generation (thanks to the drop in EUA prices) provided additional downward pressure, particularly for far curve prices. In Asia, JKM spot prices eased…
Brent prompt futures retreated to 60.7 $/b after the publication of the two monthly reports from OPEC and the IEA, showing a slower recovery than expected in January. The threat of strikes on Troll and Johan Sverdrup fields in Norway is pushing North sea crude differentials higher. Gasoline prices in Europe continued to drop, as…
The situation has not changed much on financial markets that remain calm. Stocks are trading sideways, bond yields and the USD remain rather stable. The EUR/USD has stabilized around 1.2130. The House advanced on the stimulus package, but the Senate is focused on the trial of the former president. UK GDP was up 1% in…
Brent prompt futures continued to rally to 54.7 $/b on early Thursday as Saudi Arabia guaranteed that their voluntary supply cut would last two months starting in February. The US weekly report reported rising refining runs leading to a large stocks draw of 8 mb. On the product side, US oil product markets weakened. Overall…
