Brent prompt month contract remained range-bound at 55.5 $/b as the dollar remained supported despite a significant unexpected change in the US macroeconomic indicators. Time spreads edged higher this week, with the front spread reaching 40 cents. This has consequences in terms of inventory release and market positioning but has adverse consequences for refiners. Share…
First estimates of national accounts in Q4 point to resilient activity or much more resilient than feared. Q1 should be very different, in Europe at least. Financial markets are still very volatile, although the VIX fell back towards 30. The “war” between retail traders ad Hedge Funds looks far from being over. It has undergone…
The European power spot prices slightly faded yesterday amid forecasts of higher temperatures dampening the demand, but managed to remain above both clean gas and coal costs. Prices hence eased by 2.50€/MWh from Tuesday in Germany, France, Belgium and the Netherlands to reach 54.74€/MWh on average. The milder temperatures curbed the French power consumption on…
European gas prices were mixed yesterday, torn between the impacts of mild weather and lower Asian prices on the one hand and higher coal prices on the other hand. In Asia, system baseload spot power prices on the Japan Electric Power Exchange for delivery today were almost stable, at €76/MWh, compared to €77/MWh for delivery…
Brent futures contracts dipped on Wednesday and early Thursday, with the prompt month contract at 55.4 $/b, as all risky assets tanked amid broader market concerns about the macroeconomic backdrop. Furthermore, the EIA reported a large crude inventory draw of 9.9 mb, but mostly due to volatile net imports. The Norwegian field Johan Svredrup is expected to…
