Brent prompt futures continued to rally to 54.7 $/b on early Thursday as Saudi Arabia guaranteed that their voluntary supply cut would last two months starting in February. The US weekly report reported rising refining runs leading to a large stocks draw of 8 mb. On the product side, US oil product markets weakened. Overall…
What was feared just after the presidential election actually happened yesterday: Trump supporters invaded the Capitol to prevent Joe Biden’s victory from being certified by the Congress. The process was eventually only delayed for a few hours and moreover, Mr. Biden can now count on Senate support after the two remaining seats went to Democratic…
The European power spot prices were mixed on Tuesday. While German prices eroded 2.65€/MWh to 52.68€/MWh, the French and Belgian prices rose significantly to respectively 70.16€/MWh (+6.31€/MWh dod) and 81.45e/MWh (+18.06€/MWh dod). Prices in the Netherlands however remained stable at 59.59€/MWh, a mere 0.20€/MWh increase day-on-day. The low temperatures continued to strengthen the French power…
European gas prices dropped significantly yesterday, both on the spot and the curve. Spot fundamentals were almost unchanged. Significantly below-normal temperatures continued to maintain residential demand at strong levels. On the supply side, both Russian and Norwegian flows were stable, respectively at 332 mm cm/day and 334 mm cm/day on average. The further rise in…
Brent prompt futures contract hiked to 54 $/b on early Tuesday, up by about 5%, as OPEC surprised market participants by reducing February output. The twist came from Saudi Arabia who decided to unilaterally cut production by 1 mb/d in February while allowing Russia and Kazakhstan to marginally increase their production for February and March.…
