The European power spot prices soared above 200€/MWh for today, lifted by forecasts of stronger power demand following yesterday’s public holiday and a drop in wind output. The day-ahead prices averaged 204.04€/MWh in Germany, France, Belgium and the Netherlands, +110.06€/MWh day-on-day and +4.74€/MWh week-on-week. The EUAs observed another volatile session on Monday, mirroring the sharp…
Whether its market prices or threats from oil-consuming countries, OPEC+ is warmly invited to increase production by more than the 0.4 mb/d monthly hike planned for December. Indeed, front-month time spreads in Brent, WTI and Dubai markets all rallied substantially last week, with Dec21/Jan22 WTI at 150 cents, while Jan/Feb 22 Brent hovered around 130 cents. The Dubai benchmark…
Equity markets started November higher, following an October in which they more than erased September’s losses. Good corporate results in Q3 seemed to show that rising costs were not weighing on margins, but this is only possible if selling prices rise, which supports inflation fears. The ECB meeting last week showed that central banks are…
The power spot prices slightly rebounded in northwestern Europe yesterday, supported by forecasts of easing wind output. Prices however faded in France where the nuclear availability is expected to improve and the power demand to weaken. The day-ahead contracts averaged 176.23€/MWh in Germany, France, Belgium and the Netherlands, +6.39€/MWh day-on-day. The carbon prices started Wednesday…
European gas prices dropped significantly yesterday, still pressured by above-normal temperatures and more comfortable supply. Norwegian flows rebounded to 337 mm cm/day on average yesterday, compared to 328 mm cm/day on Wednesday. Russian flows were also higher, to 265 mm cm/day on average, compared to 262 mm cm/day on Wednesday. The drop in Asia JKM…
