We thought obvious signs of economic slowdown in China could somewhat challenge markets’ optimism yesterday but that did not happen. Progress in the vaccination campaign in the US as well as peaceful negotiations about the stimulus package between Republicans and Democrats were enough to push risky assets higher. The noticeable exception was the USD that…
The European power spot prices for today climbed back above the clean gas and coal costs, lifted by forecasts of a weak renewable production and lower temperatures (although increasing) temperatures. Prices hence reached 57.23€/MWh on average in Germany, France, Belgium and the Netherlands, +8.39€/MWh from Friday. The temperatures nearly 6°C above normal curbed the French…
Spot and near curve prices were down on Friday in most European gas markets as interests switched to the March contract, a period during which the European supply/demand balance is expected to be much more comfortable thanks to lower seasonal demand and the (expected) increase in LNG supply. The drop in EUA prices provided additional…
Brent prompt month futures remained range-bound on early Monday, as newly implemented European travel restrictions were anticipated to reduce gasoline and jet demand in February. Furthermore, lower speculative demand on WTI contract is likely to have eased upward flat price pressure, as shown by the latest CTFC report. Finally, Saudi official selling prices are expected to…
After a tough day and even a tough week that saw the main equity markets losing between 3 and 4%, Asian markets posted strong rebounds overnight, but this looks fragile, as the release of the Chinese January PMIs yesterday pointed to clear economic slowdown linked to restrictive measures put in place in order to address…
