European gas prices rebounded slightly yesterday as the bullish impact of higher EUA and coal prices (which increased parity prices with coal for power generation) prevailed over the bearish impact of (current) mild weather and weaker Asian prices. Indeed, JKM spot prices extended losses, falling to €23.106/MWh yesterday, -5.24% day-on-day. On the pipeline supply side,…
The EUR/USD has fallen below 1.20. The USD is strong, but the euro is weakening vs other currencies as well, the main reason being the slow start in the vaccination campaigns that cloud recovery prospects. While markets focus on the timing and the extent of the economic rebound in the US and the UK, they…
The power spot prices rebounded yesterday in Northwestern Europe amid forecasts of weaker renewable production and lower temperatures. Prices averaged 52.29€/MWh in Germany, France, Belgium and the Netherlands, +8.47€/MWh day-on-day. Despite weaker coal and stronger gas prices, the spiking emissions prices pushed the clean coal costs nearly 2.50€/MWh above the clean gas costs. The French…
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 :…
