Prospects of mild and windy weather in the coming two weeks (except at the end of this week) and a rebound in Russian gas flows at the Velke Kapusany entry point compared to Friday exerted some bearish pressure on European gas prices on Monday. Thermal coal prices remained relatively steady, notably as some Chinese players are…
Crude oil prices are levelling off and even retreating a little this morning: Brent 1st nearby is back down to $92/b after touching $94/b yesterday. It is the resumption of negotiations on the Iranian nuclear issue in Vienna today that is making the markets cautious. According to the Russian authorities, an agreement is close, while the US…
Yesterday was a relatively quiet day on the markets in the absence of a key market mover. Christine Lagarde assured that the adjustment of the ECB’s monetary policy would be gradual, but the market expects a rate hike as early as September and scenarios of a hike as early as June are starting to circulate. However, it…
European gas prices ended the week on another bullish note on Friday, supported by a further drop in Russian gas flows through Ukraine and prospects of higher gas demand as temperatures were expected to normalize by mid-February. Strong Brent, oil and coal prices provided support to the far curve as well, with TTF Cal 23…
The price of Brent 1st-nearby touched $94/b overnight. Saudi Arabia’s price hike for March for its Asian, US and European customers sends a confidence signal to the market that demand is robust. In addition, Vitol believes that China’s low crude stocks can be expected to rebuild now that the holiday season is over. We often focus on the tightness…
