European gas prices dropped significantly end December, pressured by lower heating demand (as temperatures rose significantly above normal) and higher LNG supply. Indeed, the moderation in Asia LNG imports (China LNG imports even dropped by 1.4% y-o-y in December) led to a strong increase in LNG flows to Europe in December: +19% m-o-m and +42%…
The power spot prices for today averaged 86.50€/MWh in Germany, France, Belgium and the Netherlands, dampened by the recent drop of gas prices and the current wind surge across NWE with the production reaching nearly 42GW in Germany this morning. The EUAs edged up over their last session of the year amid very thin exchanged…
There was little change in the financial markets last week. Equity markets ended the year near their highs, long rates continued their very slow rise and the euro strengthened slightly against the dollar. So despite the uncertainty and risks surrounding the Omicron variant, it seems that optimism continues to prevail. Very few economic indicators were…
Crude time spreads gave a boost to the crude complex, by hiking to 25 cents backwardation at the prompt, while front-month ICE Brent crude reached 76 $/b amid thin liquidity and a growing list of crude production outages in OPEC countries. Interestingly, Dubai crude swaps remained highly bid when ICE Brent markets were close to contango…
The European power spot prices continued to drop yesterday on retreating gas and carbon prices and forecasts of fading power demand and soaring wind production. The day-ahead prices averaged 270.38€/MWh in Germany, France, Belgium and the Netherlands, -86.75€/MWh day-on-day, and -68.58€/MWh week-on-week. After a slight rebound at the market open, the carbon quickly reversed and…
