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…
The correction of the equity markets continues in the wake of the violent fall of the Nasdaq yesterday evening (-3.34%). Long-term bond yields also continue to rise: the US 10-year is up to 1.73% while the German Bund has not been so close to zero since May 2019! The publication of the Fed Minutes was seen as a thunderclap as…
The power spot prices were mixed yesterday in northwestern Europe, rising in France and the Netherlands on higher fuels and carbon prices and expectations of stronger demand, but driven down in Germany and Belgium by forecasts of surging wind output. The day-ahead prices averaged 158.62€/MWh in the four countries, +1.33€/MWh day-on-day. The carbon prices continued…
