Brent futures prices remained range-bound on Monday at about 55.5 $/b as the dollar strengthened, weakening buying interest. At the same time, Russian exports were revised significantly lower for the February trade cycle in Europe, tightening further the sour crude markets. Indian crude imports were at a 2-year high in December, according to government statistics,…
US tech stocks remain apart, but the general trend in financial markets has turned negative for two main reasons: 1) hopes of recovery linked to Covid vaccines have likely be excessively optimistic and 2) the US stimulus package will not be voted before mid-March at the earliest according to the Democratic majority leader of the…
The European power spot prices for today climbed back above the clean gas and coal costs, pushed up by forecasts of weak wind production and below average temperatures, although expectations of improved French nuclear availability limited the gains. Spot prices reached 60.75€/MWh on average in France, Germany, Belgium and the Netherlands, +11.50€/MWh from Friday’s prices.…
European spot and near curve gas prices increased strongly on Friday, supported by colder temperatures and lower renewable power generation. The tension in Asian markets continued to ease on Friday. Indeed, thanks to lower power consumption, system baseload spot power prices on the Japan Electric Power Exchange for delivery today eased to €96/MWh, down from…
Brent futures prices were stable at 55.5 $/b for the prompt future contract amid growing concerns over new lockdowns, as Hong Kong declared a 2-day lockdown, while France will likely implement one by the end of the week. The evolution of the pandemic in China is also closely monitored, with strong actions from the Chinese authorities…
