European gas prices rebounded yesterday, supported by the additional drop in Russian flows, concerns on a possible ban of Indonesia coal exports in January and technical buying. Indeed, Russian supply dropped to 183 mm cm/day on average yesterday, compared to 251 mm cm/day on Friday. Norwegian flows remained close to their maximum, averaging 352 mm…
While the holiday season was marked by cautious optimism, given the risks associated with the surge in Covid cases around the world, the first market session of the year saw equities hit new highs and bond yields rebound sharply: the US 10-year bond yield even recorded its strongest rise for the start of the year since 2009:…
Supplies issues continue to creep up in OPEC nations, as the Libyan output continues to be impacted by multiple political and technical hurdles. Libyan exports were expected to remain below 700 kb/d for the next weeks, which almost halved compared to Q4 exports. Global crude inventories continued to dip by about 10 mb since Christmas, throughout the winter…
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…
