Brent prompt future prices retreated by 1$ at 56 $/b as most European countries doubled-down on restriction measures due to the expansion of the new strain of coronavirus. However, improved market conditions in the US, with an inventory draw in US commercial stocks and higher refining runs, are helping prices to potentially solidify at current…
Bond yields that had declined have started rebounding on rumors the stimulus package may amount to $2tn. Answer later today. Whatever the size of the plan, the Senate will have to take time to vote it, as in parallel, it will have to deal with the trial of Mr. Trump, who has been impeached by…
If forecasts of surging wind pressured the German power spot prices yesterday, day-ahead prices elsewhere in NWEurope posted hefty gains amid a significant rise of gas prices and scarcity in the U.K., despite the higher temperatures weighing on the demand. Prices rose by 10.32€/MWh in France to 73.85€/MWh while in the U.K. the prices climbed…
Prices increased again significantly yesterday in most European gas markets, still supported by strong residential demand and relatively weak supply amid very bullish Asian power and gas markets. JKM spot prices rose to €90.824/MWh yesterday, +14.60% day-on-day, on the back of ongoing exceptional spot baseload power prices on the Japan Electric Power Exchange. On the…
Brent prompt futures continued to hike, at 57$/b on early Wednesday as the API data showed a bigger than expected crude inventory draw in the US. Both gasoline and distillate stocks grew amid falling US demand and growing refining supply. In its latest Short-Term Energy Outlook, the EIA still predicts brent price to average 53$/b…
