Markets are pausing, weighing prospects of stronger fiscal stimulus in the US against the acceleration of the spread of the pandemic, especially in Europe, where lockdown measures are being reinforced and extended. Some Fed officials also calmed down talks about a reduction in bond purchases as soon as this year, therefore helping to stop both…
The European power spot prices were mixed yesterday, up in Belgium and the Netherlands, but down in Germany and France on forecasts of stronger renewable production and lower power demand. The below-average temperatures continued to support the French power consumption which rose by 1.09GW from Friday to 80.12GW on average. The warming weather expected today…
Prices increased again yesterday in most European gas markets, still supported by strong demand due to freezing temperatures and relatively weak supply. In Asia, JKM spot prices rose to €79.255/MWh yesterday, +32.17% day-on-day, strongly helped by exceptional spot baseload power prices: €1220/MWh yesterday on the Japan Electric Power Exchange (compared to €1184/MWh on Friday). As…
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,…
