The European power spot prices remained overall stable yesterday amid little change in fundamentals. The day-ahead prices averaged 203.56€/MWh in Germany, France, Belgium and the Netherlands, +1.03€/MWh day-on-day. After a bearish morning that drove prices as low as 77.55€/t, the EUAs strongly rebounded on Thursday afternoon on bullish news from the gas market. The EUA…
European gas prices rebounded significantly yesterday, supported by the strong drop in Norwegian flows (down to 328 mm cm/day on average, compared to 342 mm cm/day on Wednesday, due to an unplanned outage at the Troll gas field); the outage is expected to end on 17 January. Asia JKM prices sent mixed signals: -15.19% on…
China has achieved a record trade surplus of $676 billion in 2021, thanks to the strong recovery in global demand for materials (steel), consumer goods and products specifically related to the pandemic (para-medical equipment). The relative weakness of domestic consumption has at the same time limited imports. This trend should be confirmed in 2022: China will…
Crude prices rallied yesterday, above 85 $/b for ICE Brent crude, despite a rather neutral data release from the EIA. Indeed, crude stocks continued to be depleted at a rapid pace (4.6 mb) despite multiple maintenance and outages plaguing the US refineries (fire at the Baytown refinery broke last week). On the refined product side,…
The surging wind output and strengthening solar and hydro generation weighted further on the Euporean power spot prices yesterday, although the rather strong demand, especially in France where temperatures hover below normal this week, limited the losses. The day-ahead prices averaged 202.53€/MWh in Germany, France, Belgium and the Netherlands, -31.53€/MWh day-on-day. The power curve prices…
