The weak wind production and increasing power demand due to the lowering temperatures maintained the power spot prices for today at decent levels in northwestern Europe. The day-ahead prices average 178.95€/MWh in Germany, France, Belgium and the Netherlands, -24.89€/MWh from Friday. The carbon prices fell below 60€/t on Friday as the gas market continued to…
Supported by higher demand, European spot gas prices increased yesterday, partially filling their discount against near curve prices. These latter were down overall, pressured by the drop in Asia JKM prices (-8.21%, to €103.963/MWh, on the spot; -0.09%, to €94.853/MWh, for the December 2021 contract). Far curve prices were more resilient, supported by the strong…
The US job report for September was not as bad as the weak job creation might suggest, as we explained here on Friday. The acceleration of wages is obvious and cannot leave the Fed indifferent: it should announce the beginning of the reduction of its asset purchases on 3 November. The markets will then focus on the timing of…
A growing gas supply gap : a closer look at Europe and Asia gas balances over the 2000-2020 period The causes of the ongoing natural gas shortage across Europe have already been well commented. But putting aside short-term drivers (post-covid economic recovery, weather events leading to a higher storage usage or higher LNG imports, temporary…
Crude prices rallied yesterday, as OPEC+ members met to decide their forward production policy for November. Dec-21 ICE Brent contract reached 81.6 $/b on early Tuesday. Interestingly, Brent-Dubai EFS, denoting the competitivity of Dubai-denominated grades against Atlantic basin grades, rallied to 4.38 $/b, which has likely been a concern for OPEC nations, as their crude…
