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…
Global stocks continue to rise and so do commodity prices and bond yields, while the Bitcoin is nearing $50000. Risky assets are pushed higher by a mix of confidence in the future economic recovery and speculation in a context of over-abundant liquidity. The reopening of US financial markets will test this optimism today. The EUR/USD…
The European power spot prices for today dropped significantly compared to Friday amid a sharp rise of temperatures and wind output offsetting the lower French nuclear availability expected in the upcoming hours. Prices reached 50.79€/MWh on average in Germany, France, Belgium and the Netherlands, -10.03€/MWh from Friday. The French power consumption slightly strengthened to 78.52GW…
