After their best week since November, equity markets should start this one with much more caution, as it was already the case in Asia. The rise in US bond yields carries both expectations of stronger real growth boosted by substantial budgetary stimulus in the first days of the Biden presidency and signs that inflation is…
The NW European power spot prices continued to rise amid dropping temperatures and weak renewable production. Prices reached 79.53€/MWh on average in France, Germany, Belgium and the Netherlands, +8.51€/MWh from the day prior and way above the clean gas and coal costs respectively at 52.78€/MWh and 52.11€/MWh. The French power consumption further strengthened on Thursday…
European gas prices increased significantly yesterday, both on the spot and the curve, still supported by freezing temperatures in Europe and in Asia. An all-time record was posted on the Spanish PVB spot market, €52/MWh, a price not far from Asia spot JKM prices (€57.583/MWh yesterday, +4.14% day-on-day). Despite such huge Asian gas prices, gas-fired…
Brent prompt futures remained at 54.7 $/b on early Thursday. Mobility across Europe and the US is reportedly lower in early January as most countries are ramping-up healthcare measures to contain the pandemic. Asian available refining capacity dropped by about 370 kb/d for the latter part of January as incidents and planned maintenance capped Japanese…
Donald Trump conceded his defeat for the first time, as he tries avoiding to be expelled from the White House before January 20th. But the market does not care, focused on prospects of more economic stimulus with a US Congress controlled by the Democratic party. Equities posted strong gains yesterday and the US 10y is…
