Crude prices steadied above 81 $/b for the March ICE Brent contract and front-month backwardation remained strong, above 60 cents, as Libyan output was expected to ramp up quickly to 900 kb/d instead of 750 kb/d, following maintenance work on a pipeline delivering crude to El Sider. In Kazakhstan, the situation was still unclear, with the…
European gas prices weakened on Friday, apparently under pressure from the rebound in Norwegian supply (to 348 mm cm/day on average, compared to 341 mm cm/day on Thursday) and more generally the (slight) improvement in storage levels as net storage withdrawals are currently at historically low levels. On their side, Russian flows remained stable, at…
Buoyed by forecasts of a wind shortage the European power spot prices for today significantly rose compared to last week, although the weaker demand and improved French nuclear availability expected in the upcoming hours might have limited gains. The day-ahead prices averaged 260.77€/MWh in Germany, France, Belgium and the Netherlands, +67.64€/MWh from Friday and +174.27€/MWh…
Crude prices soared past 82 $/b yesterday for the March ICE Brent contract, with March/April time spreads rallying strongly to 70 cents, as the political crisis in Kazakhstan sparked concerns among crude buyers in the Mediterranean area. Indeed, Chevron reported a reduction of output – likely to be less than 30% – in the Tenzig field as…
The European power spot prices eased yesterday, weighed by forecasts of milder temperatures and stronger wind output. The day-ahead prices averaged 193.13€/MWh in Germany, France, Belgium and the Netherlands, +21.55€/MWh day-on-day. Prices should observed a strong volatility next week, with the wind output expected to sharply drop on Monday before quickly surging back over the…
