Brent prompt contract traded higher on Tuesday morning, as European physical crude prices, especially Russian Urals, edged higher compared to Brent, at a 70 cents discount, as sour crude supplies for European customers are becoming increasingly scarce. However, sour crude markets continued to weaken in Asia, as ESPO cargoes were reportedly sold at a single-digit…
Markets seem shifting stance ahead of Mrs. Yellen’s confirmation hearing before the Senate today. The content of her speech has already been released and it is without any surprise a plea for a very voluntarist budgetary policy, to begin with the stimulus package unveiled by Mr. Biden last week. US markets were closed yesterday, but…
he power spot prices for today dropped by between 16.30€/MWh and 20.58€/MWh from Friday in Germany, Belgium and the Netherlands on forecasts of soaring wind output. Expectations of higher demand however limited the losses in France where prices only eroded 3.15€/MWh to 69.17€/MWh. The French power consumption rose by 2.83GW to 72.27GW on average on…
European gas prices dropped significantly on Friday, both on the spot and the curve. The drop seems to have triggered by the fall in Asian gas prices. Indeed, JKM spot prices dropped to €76.287/MWh on Friday, -16.43% day-on-day. Baseload spot power prices on the Japan Electric Power Exchange rebounded to €779/MWh on Friday (up from…
Brent futures prices continue to be under pressure across the curve as rising coronavirus cases in China clouds the outlook for demand. Physical crude grades associated with Chinese crude buying retreated, as Chinese independent refiners prefer to consume their crude stockpiles in case spot prices were to weaken significantly more. However, Asian gasoline prices remain…
