European spot and near curve gas prices dropped yesterday, still pressured by mild weather and weaker Asian prices. By contrast, prices on far curve were up, supported by the sharp rise in EUA prices (which increased parity prices with coal for power generation). In Asia, JKM spot prices extended losses, falling to €24.383/MWh yesterday, -2.90%…
Brent prompt futures reached 59 $/b on early Thursday, despite a rally in the dollar as global inventories dwindled and OPEC+ member were renewing their commitments towards a swift market rebalancing. However, the crude draws in the US were combined with a surge in gasoline stocks, as US demand continues to disappoint. Share this news :…
US economic reports may be too good for markets as they both tend to fuel inflationary fears and lower the need for a big stimulus package. The positive trend in the stock market has started to reverse. Asian markets also suffered from confirmation of the tough stance of the Biden administration vis-à-vis China. The Italian…
The European power spot prices fell further yesterday amid forecasts of stronger wind output and milder temperatures. Prices eroded 7.33€/MWh in Germany, France, Belgium and the Netherlands to reach 43.82€/MWh on average. The French power consumption eased further by 1.40GW to 62.07GW on average as temperatures continued to rise. The latter are however expected to…
European gas prices were mixed yesterday, torn between the bearish impact of lower residential gas demand and weaker Asian prices and the bullish impact of higher EUA and coal prices (which increased parity prices with coal for power generation). In Asia, system baseload spot power prices on the Japan Electric Power Exchange for delivery today…
