The power spot prices faded in Northwestern Europe yesterday, pressured by forecasts of rising wind and solar generation and improved French nuclear availability. The day-ahead prices averaged 169.84€/MWh in Germany, France, Belgium, and the Netherlands, -29.47€/MWh day-on-day. The EUAs posted slight gains on Tuesdays in a continuously illiquid market as most participants are adopting a…
European gas prices increased yesterday. Spot prices were supported by lower Norwegian supply (322 mm cm/day on average, compared to 341 mm cm/day on Friday) due to planned maintenance works. Russian flows were also lower, to 250 mm cm/day on average, compared to 255 mm cm/day on Friday. The rebound in JKM prices (+1.81%, to…
The European power spot prices slightly increased yesterday as the forecasts of higher power demand and dropping solar generation offset the expectations of stronger wind output and improved French nuclear availability. The day-ahead prices averaged 199.30€/MWh in Germany, France, Belgium and the Netherlands, +10.85€/MWh day-on-day, but should fade today due to the rising renewable generation…
Gasoline prices spiked yesterday in Asia, with Singapore’s benchmark 92 RON cracks reaching 17.8 $/b in the spot window (103.7 $/b in total on a FOB Singapore basis) and November cracks above 12 $/b. Strong bids were formulated by trading houses, likely trying to respond to Indian gasoline tenders. Indeed, India is looking for at least 3.7…
Evergrande, Fantasia, Sinic and now Modern Land: the list of Chinese real estate developers unable to repay their USD debt on time is growing. This is a reminder that China’s real estate market cleanup is just beginning and will have, at best, lasting negative consequences on growth. In the US, it appears that the repeal of Donald Trump’s…
