The European power spot prices retreated yesterday, pressured by forecasts of surging wind output and higher solar and hydro generation. The day-ahead prices averaged 196.07€/MWh in Germany, France, Belgium and the Netherlands, -40.02€/MWh day-on-day. After a bearish morning that drove them as low as 79.00€/t, the EUAs sharply rebounded on Tuesday afternoon with surprisingly high…
The European power spot prices edged down yesterday, pressured by forecasts of stronger wind, solar and hydro generation on one side and by the weaker gas and emissions prices on the other. The day-ahead prices averaged 250.55€/MWh in Germany, France, Belgium and the Netherlands, -10.21€/MWh day-on-day, and should drop further in the upcoming days due…
European gas prices weakened again yesterday, under pressure from the (slight) improvement in storage levels and weaker Asia JKM prices (-8.93% on the spot, to €85.705/MWh; -1.71% for the February 2022 contract, to €100.234/MWh; -1.80% for the March 2022 contract, to €84.234/MWh). Indeed, Indonesia government eased yesterday the coal export ban, allowing 14 coal vessels…
ICE Brent front-month continued to trade above 81 $/b, despite improving supply conditions in Kazakhstan and Lybia. Both countries are ramping up their crude production and should be back to their nominal output by the end of January if there are no additional disruptions. Following the Saudis, Kuwait has also cut its OSPs by close to 1$/b…
The trends that have been at work for several days were first accentuated yesterday on the markets: the US 10-year yield exceeded 1.8% and the Nasdaq entered a correction phase (more than 10% loss compared to its November record), giving up up to 2.7% more in the session. Then everything changed: rates fell (now 1.75%)…
