The power spot prices fade yesterday in northwestern Europe, weighted by forecasts of higher German wind production, French nuclear availability and hydro generation, although the stronger demand and rising fuels and carbon prices may have limited the losses. The day-ahead prices averaged 175.09 in Germany, France, Belgium and the Netherlands, -25.32€/MWh day-on-day. The EUAs finally…
Crude prices continued to be supported, at 83.5 $/b on early Monday, as the OPEC saga ended on Friday with Saudi official selling prices being disclosed for the month of December. Surprisingly, The Saudis hiked crude differentials to Asia by 1.4 $/b against the Oman/Dubai average, one of the highest monthly hikes on record, in clear…
The easing in bond yields that began after the Fed meeting and especially the Bank of England’s decision to postpone monetary tightening continued on Friday after a very solid US employment report: job creation picked up and wages continued to accelerate (more details here). The markets focused on the fact that the participation rate did not rise,…
European gas prices were mixed on Friday, waiting to see how Russian flows will evolve this week. As a reminder, on 27 October, President Putin had told Gazprom to start pumping gas into European gas storages (in Germany and Austria) once Russia finishes filling its own stocks, which may happen by November 8. Moreover, Asia…
The European power spot prices soared near 200€/MWh for today, buoyed by forecasts of stronger demand and weaker wind output. The day-ahead prices averaged 200.41€/MWh in Germany, France, Belgium and the Netherlands, +23.23€/MWh from Friday and +106.43€/MWh from last week due to the stronger wind production then. Trading sideways over the last session of the…
