Brent prompt contract regained Monday’s losses to reach 56 $/b, despite a strengthening dollar. At the same time, diesel margins progressed higher in Europe and Asia. The US stimulus suggested by President Biden’s team is expected to lift US consumer spending earlier than expected, hence improving distillates and gasoline demand. Saudi Arabia will upgrade its on-road…
Democratic lawmakers of the House of Representatives have launched for the second time an impeachment against the US President. US equity markets were down yesterday, as the strong rise in bond yields raises many doubts about the sustainability of stretched valuations. The USD strengthened as well (EUR/USD touched 1.2132), but these trends seem already reversing,…
Forecasts of soaring wind output strongly pressured the European power spot prices for today which dropped by 24.40€/MWh from Friday in Germany, France, Belgium and the Netherlands to 55.13€/MWh on average. The below-normal temperatures continued to support the French power consumption on Friday which reached 79.03GW on average, +0.01GW day-on-day. The country’s nuclear generation remained…
European gas prices extended gains on Friday, both on the spot and the curve, still supported by freezing temperatures in Europe and in Asia and tight LNG supply. In Asia, spot JKM prices rose to €59.966/MWh on Friday, +4.14% day-on-day, strongly helped by exceptional spot baseload power prices: €1184/MWh on Friday on the Japan Electric…
Brent prompt contract reached 56 $/b on Friday close for Brent prompt contract thanks to the aggressive Saudi production cut announced last Tuesday. Prices retreated to 55.2 $/b on early Monday as mounting coronavirus cases in China led to lockdowns in regions near Beijing, casting doubt on the future Chinese demand growth if reported cases…
