European gas prices were mixed on Friday. Spot prices were slightly up, supported by below-normal temperatures. By contrast, curve prices were slightly down as the additional drop in China coal prices continued to fuel hopes of an easing in global coal and gas markets. Asia JKM prices weakened on Friday: -2.23%, to €97.945/MWh, on the…
While real estate is already expected to weigh negatively on the growth of the Chinese economy in Q4, a new wave of the variant delta epidemic is affecting 11 provinces and leading to new mobility restrictions for the population. Household consumption is expected to suffer, as it did in August. The slowdown in China is not calming inflation expectations: the…
Driven up by forecasts of much weaker wind output, lower French and Belgian nuclear availability and higher power demand, the power spot prices for today rose in northwestern Europe compared to Friday, with the German prices getting back near its neighbors’ after a week being mostly uncoupled. The baseload day-ahead prices hence averaged 188.46€/MWh in…
Crude prices hiked on early Monday, with ICE Brent reaching 86.1 $/b. The most surprising move came late Friday when ICE Brent forward curve steepened, with the Dec/Jan inter month spread reaching 93 cents, previously hovering around 70 cents. Dec-21/Dec-22 also jumped, to reach an impressive 9.73 $/b, rarely experienced that close to the expiry. on…
New home prices in China fell marginally in September for the first time since April 2015. A new property developer, Sinic, was also unable to meet its commitments on a USD loan. The situation remains tense, although “manageable” according to the Chinese authorities. Markets that were driven by positive sentiment until yesterday are likely to take…
