Quite a sharp downward correction in bond yields (below 1.8% for the US 10-year), but this did not support the equity markets, quite the contrary: the Nasdaq fell by another 1.3%. Bitcoin is trading below $40000 and the price of gold is rising. The fear of inflation is accompanied by a fear of economic slowdown which…
The European power spot prices continued to fade yesterday amid strong renewable production forecasted for today, the German prices dropping below the clean gas cost (for 38% efficiency coal power plants) as the country is expected to observe a wind production rising up to 40GW this morning. The day-ahead prices averaged 171.14€/MWh in Germany, France,…
ICE Brent front-month settled at 88.4 $/b, as the API survey showed small builds in commercial crude (1.4 mb) which counterbalanced perfectly the release of the US strategic stocks (1.4 mb). Interestingly, as gasoline stocks still built by about 3.5 mb, distillate stocks dropped by 1.2 mb. This could be due to the strong pull from…
European gas prices weakened yesterday, pressured by the additional drop in Asia JKM prices (-4.54% on the spot, to €64.323/MWh; -7.96% for the March 2022 contract, to €63.604/MWh), which indicates LNG supply to Europe will remain very high. The rebound in Norwegian supply (to 321 mm cm/day yesterday, compared to 264 mm cm/day on Tuesday,…
The EnergyScan team held its quarterly webinar covering key trends and events on energy markets. In this webinar, our experts addressed the following topics, with a Q&A session at the end of each topic: • Macroeconomic outlook: Between Omicron and inflation• Oil: Addressing upside demand risks in a capital-starved industry• Natural Gas: High gas prices:…
