No clear trend on financial markets: from one day to another, the European and US stock markets continue to go in opposite directions. Bond yields are almost stable, the USD as well. While the Biden’s administration promises to vaccine every US citizen by Summer, Europe is struggling to keep its vaccination campaign on track due…
The NW European power spot prices remained overall stable yesterday at 61.61€/MWh on average (+0.86€/MWh dod), torn between forecasts of higher wind output and expectations of weaker demand. If prices in Germany, Belgium and the Netherlands edged up by less than 1€/MWh, prices in France posted slightly higher gains (+2.42GW day-on-day) as temperatures are forecast…
European gas prices dropped yesterday, both on the spot and the curve. Prices were pressured by new weather forecasts pointing to milder temperatures, significantly above normal, for next week. Moreover, the tension in Asian markets continued to ease. Indeed, thanks to lower power consumption, system baseload spot power prices on the Japan Electric Power Exchange…
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…
