European gas prices weakened again on Friday, pressured by weak demand and comfortable supply. While Russian flows were stable, averaging 227 mm cm/day, Norwegian flows were up, to 325 mm cm/day on average, compared to 320 mm cm/day on Thursday. However, the rise in coal prices (+4.61% for API2 1st nearby prices, +4.01% for Cal 2023…
The European power spot prices inched down yesterday amid weaker clean gas costs and forecasts of lower demand. The day-ahead prices hence averaged 208.56€/MWh in Germany, France, Belgium and the Netherlands, -2.66€/MWh day-on-day. The power forward prices posted moderate losses along the curve, weighed by the fading gas markets and plummeting carbon prices. The EUAs…
Oil prices climbed on Thursday, in a volatile trading session. On ICE, Brent for July delivery settled 2.7% higher to $112.04/b, the contract traded between $105.70/b and $112.31/b. On NYMEX, WTI front month made a 2.4% gain to stand at $112.21/b. At start, oil market was dragged lower as stocks continued to drop, on worsening growth…
European gas prices weakened yesterday. Russian flows increased again, averaging 227 mm cm/day, compared to 218 mm cm/day on Wednesday. Norwegian flows were also up, rebounding to 320 mm cm/day on average, compared to 312 mm cm/day on Wednesday. Comments from Russia Deputy Prime Minister Alexander Novak saying yesterday that around half of the 54…
The yo-yoing continues on the markets: after a new decline in the equity markets yesterday and a sharp drop in long term rates (10 years US at 2.86% this morning), the trend was strongly reversed in Asia after Chinese banks lowered by 15bp the 5-year credit rate from 4.6% to 4.45%. The previous cut (-5bp) was…
