European gas prices maintained their bullish momentum yesterday. Norwegian supply rebounded to 341 mm cm/day on average (compared to 331 mm cm/day on Wednesday) after the unplanned outage at the Oseberg field was fixed, but ongoing low Russian flows (stabilizing at 185 mm cm/day on average) and colder weather remained a concern. Asia JKM prices…
European equity markets fell yesterday after the shock of the Fed minutes, but they have almost stabilised in the US and the trend has reversed in Asia before the publication of the US job report today. Status quo on rates (US 10yr at 1.72%) and currencies (EUR/USD at 1.13). Can this report re-launch the correction by highlighting…
Crude prices remained supported despite a weak data release in the US, as protests in Kazakhstan, joined by oil workers, could have consequences on the 1.6 mb/d nation’s output. In the US, gasoline stocks jumped by 10 mb, as demand cratered during the Christmas break (both domestically and export demand), while refiners continued to run harder. Combined…
The European power spot prices increased yesterday, buoyed by forecasts of continuously rising power demand and dropping wind output. The day-ahead prices averaged 214.67€/MWh in Germany, France, Belgium and the Netherlands, +56.05€/MWh day-on-day. EUAs extended their uptrend and posted a 3.1% gain on Wednesday, the market participants pointing at the support from the lack of…
European gas prices increased again yesterday, receiving additional support from lower Norwegian supply (down to 331 mm cm/day on average yesterday, compared to 349 mm cm/day on Tuesday, due to an unplanned outage at the Oseberg field), while Russian flows remained weak (slightly up to 185 mm cm/day on average, compared to 183 mm cm/day…
