European spot gas prices were mixed yesterday, amid almost unchanged fundamentals. Norwegian flows were up yesterday, averaging 350 mm cm/day, compared to 344 mm cm/day on Friday. Russian supply was almost stable, at 281 mm cm/day on average, compared to 280 mm cm/day on Friday. Moreover, the moderation in Asia JKM prices (-2.30% on the…
The European power spot prices faded yesterday amid forecasts of stronger wind output, slightly improve French nuclear availability and weaker power demand. The day-ahead prices reached 216.59€/MWh on average in Germany, France, Belgium and the Netherlands, -47.09€/MWh day-on-day. After an early and sharp rebound from Friday’s late drop, the EUAs traded flat around 80€/t for…
Crude prices climbed back above 74 $/b at the prompt, confirming that the liquidation experienced last week could be short-lived. Indeed, geopolitical risk in Saudi Arabia may have raised the risk premium in future, as Yemen’s Houthis declared to have fired missiles on Aramco’s assets in Jeddah, where a newly commissioned refinery is located. The impact of…
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…
