The stock markets are on the rise too, but many wonder if that can last long. Commodity prices are surging higher with oil prices now above $60/b (see the Daily Oil). In the US, the debate about the content of the stimulus package is intensifying inside the Democratic party, as risks of overheating are considered…
The forecasts of strong renewable production offset the expectations of higher power demand induced by the falling temperatures and pressured the European power spot prices for today. Prices eroded 5.46€/MWh from Friday to 46.07€/MWh on average in Germany, France, Belgium and the Netherlands. The French power consumption eased to 61.02GW on average on Friday, -2.12GW…
Brent prompt future contract approached topped 60 $/b on early Monday, as the successful OPEC meeting on last week continued to tighten crude markets. However, January’s US employment remained disappointing, with a 49k increase in Non-farm payroll employment, while the long-term/permanently unemployed category continues to swell. Chinese oil imports are likely to reach 10.9 mb/d…
The rather disappointing January US job report reinforced expectations of a substantial stimulus package. The US Treasury Secretary strongly defended it and the Senate voted a budget resolution that clears the way for a vote without support from the Republican party. The stock market continues to rise, but inflation expectations and bond yields too. The…
European gas prices increased on Friday, supported mainly by the strong drop in temperatures. The rise in EUA and coal prices (which increased parity prices with coal for power generation) provided additional bullish pressure. Prices even ignored the additional drop in JKM spot prices (which fell to €21.815/MWh on Friday, -5.59% day-on-day). On the pipeline…
