European gas prices rebounded yesterday, supported by cold weather and the US State Department decision to impose sanctions on a Russia-linked company and its work ship involved in finishing the Nord Stream 2 gas pipeline. The rise in Asia JKM January 2022 prices (+6.08%, to €109.455/MWh, while spot prices dropped slightly by 0.49% to €102.916/MWh)…
The European power spot prices continued to rise yesterday, supported by forecasts of weaker wind and solar generation and colder temperatures strengthening the power demand. The day-ahead prices averaged 276.17€/MWh in Germany, France, Belgium and the Netherlands, +26.36€/MWh day-on-day. The EUAs failed to set a new record for the first time in two weeks yesterday…
The US finally announced the release of 50 mb of crude oil into the market, coordinated with Japan, South Korea, the UK and China. ICE Brent crude rallied strongly, and snapped back to 82 $/b at the front, while font time spreads rallied to 100 cents. In total, the volumes released globally amounts to 65 mb, which…
The European power spot prices observed mixed variations yesterday, slightly up in France amid expectations of lower nuclear availability, but down in Belgium, Germany, and the Netherlands on forecasts of strong wind and weaker demand. The day-ahead prices averaged 195.56€/MWh in the four countries, -8.63€/MWh day-on-day. After bearish morning the EUAs reversed and hit yet…
Coordinated SPR releases continue to be the hot topic for crude markets, with China expected to release light sweet crude stocks, in line with the destocking that occurred over the year. Now, China can easily score points with Washington by following the US guidelines. It is likely that China continues to release ESPO-type crude, about an…
