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…
The US 10-yTreasury yield is settling above 1.9%, while European long rates continue to rise after last week’s BoE and ECB meetings. Markets are now expecting more than 5 rate hikes from the Fed this year after a much better than expected US job report: more than 400k jobs created in January and wages accelerating to…
The European power spot prices are mixed for today, from 84.68€/MWh in Germany due to pressure from the country’s surging wind output, to 205.50€/MWh in France with support from the falling nuclear availability despite a weaker demand expected today. The carbon prices continued to climb and hit a fresh record high at 97.50€/t on Friday…
