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…
The European power spot prices were mixed yesterday, slightly rising in Germany and the Netherland on expectations of weaker wind output and French nuclear availability but edging down in France and Belgium amid fading power demand. The French power consumption slightly strengthened yesterday to 64.10GW on average (+0.34GW dod) due to the temporarily lower temperatures.…
Prices rebounded yesterday in most European gas markets as participants began to be more sensitive to supply issues. The combined effect of reduced US LNG feedgas due to historic freeze-off in some producing regions and lower pipeline supply is now raising concerns. Although Norwegian flows continued to recover, averaging 321 mm cm/day yesterday, compared to…
