European gas prices were mixed yesterday as the rally on Asian markets came to an end but with prices stabilizing at high levels. Indeed, JKM spot prices were almost stable yesterday: +0.08% day-on-day, at €91.284/MWh. By contrast, thanks to higher temperatures, baseload spot power prices on the Japan Electric Power Exchange were sharply down, falling…
Brent prompt future prices retreated further at 55.7 $/b as growing concerns about the Chinese health situation raised concerns about Chinese oil demand prospects. President Biden unveiled the 1.9 trillion stimulus package designed to limit the economic effects of the pandemic. The US Dept of Energy is planning to release strategic petroleum reserve stocks in April of…
The US equity markets edged down ahead of Mr. Biden’s speech and profit taking may continue, as there was nothing surprising with this plan that is moreover not certain to be voted as is. Bond yields are stable and the USD keeps on strengthening, the EUR/USD trading below 1.2150 now. US jobless claims figures brought…
Scarcity in the U.K. and forecasts of dropping wind output strongly lifted most of the NW European power spot prices, with the German prices gaining up to 28.11€/MWh from the day prior to 70.58€/MWh. The lower power demand expected today in France today however weighed on the country’s prices which eroded 0.52€/MWh to 73.33€/MWh. The…
Prices dropped sharply yesterday in most European gas markets; only Spain PVB prices posted an increase. Prices were pressured by warmer weather conditions both in Europe and in Asia. Profit taking by financial players provided additional downward pressure. In Asia, JKM spot prices were almost stable yesterday: +0.43% day-on-day, at €91.215/MWh. This echoed the stability…
