The power spot prices rose for today in northwestern Europe, supported by forecasts low temperatures, low French nuclear availability and weak wind production. The day-ahead prices averaged 263.68€/MWh in Germany, France, Belgium and the Netherlands, +43.54€/MWh from Friday but -8.27€/MWh week-on-week. The EUAs finally broke above 80€/t and hit another fresh record at the market…
After hesitating, the US bond market decided and 10-year yields fell to 1.33%, which may seem logical given the weakness of job creation in November (+210k) compared to expectations and the surprise slowdown in wage growth to +4.8% yoy. In fact, not at all. The real reason for the drop in long rates is the conviction…
European gas prices weakened overall on Friday, pressured by milder weather and steady pipeline flows. Norwegian flows were up on Friday, averaging 344 mm cm/day, compared to 338 mm cm/day on Thursday. Russian supply was almost stable, at 280 mm cm/day on average, compared to 281 mm cm/day on Thursday. The drop in Asia JKM…
Crude prices continued to spiral downwards, as the omicron variant continued to dent future expect demand. Front-month ICE Brent remains above 71 $/b, while time spreads corrected heavily over the last few days. Indeed, the Feb/March 22 spreads are now trading at 32 cents, from 110 cents prior to the month, reflecting the slowdown in stock…
Strongly pressured by forecasts of surging wind output, the power spot prices dropped in northwestern Europe yesterday, with Germany presenting the largest losses as the country is expected to face up to 45GW of wind generation by midday. The day-ahead prices hence averaged 196.41€/MWh in Germany, France, Belgium and the Netherlands, -75.53€/MWh day-on-day with prices…
