Brent prompt future contract came back to 63.2 $/b, led by a patchy restart of the Texan oil infrastructure. Damages to refineries appear to be greater than previously anticipated, casting doubt on the future US refining runs. Furthermore, futures prices came under renewed pressure from the potential revival of the Iranian nuclear deal, as the…
When US jobless claims figures showed an unexpected second increase in a row yesterday, we thought the stock and bond market would both love them, but that was not the case: US equities were down for the 3rd day in a row in 2021 and the US 10y bond yield stands above 1.3% this morning. Bond…
Expectations of weaker demand and slightly improved nuclear availability continue to weigh on the European power spot prices yesterday which eroded 2.60€/MWh to 47.13€/MWh on average in Germany, France, Belgium and the Netherlands. The French power consumption dropped further by 4.23GW to reach 63.76GW on average. The country’s nuclear generation faded by 0.39GW to 44.24GW…
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…
