The European power spot prices continue to slowly fade yesterday, weighted by the rising renewable production. The day-ahead prices averaged 234.06€/MWh in Germany, France, Belgium and the Netherlands, -16.50€/MWh day-on-day and should continue to fall today as the German wind production is expected to surge above 20GW tomorrow. Another volatile session for carbon prices took…
The US economy added fewer jobs than expected in December, but the overall figures reflected a near-full employment situation with increasing wage pressures. The main elements of the December job report are summarised in this News, sent on Friday. This morning we learnt that Goldman Sachs now expects 4 rate hikes from the Fed in 2022. This is…
The year 2021 (and already a bit of 2022) in 10 charts 1 2021 was again a year marked by the pandemic but also by a recovery in inflation to levels not seen for 30 years. There are three main explanatory factors: ‒ energy prices (both a strong base effect due to their plunge in…
Diesel stockpiles globally continue to be the focus of many market participants, as ARA stocks were depleted last week by 1.4 mb, while Singapore and Fujairah stocks dropped by 0.1 mb and Singapore built by 0.6 mb. ARA middle distillate stocks are particularly at risk of dropping below 18 mb, which could send time spreads higher…
The European energy crunch entered a new phase on Thursday with an extreme spike in French power prices mirroring similar moves observed in Japan or Texas earlier this year. Prospects of record low nuclear availability pushed France Base Jan-22 prices at €640/MWh at the close, while FR Peak Jan-22 prices breached the €1200/MWh mark, suggesting that most…
