Crude prices weakened, to reach 79.4 $/b for ICE Brent January contracts, as Biden tried to convince other countries to release crude from their domestic SPR. Front-month time spreads remained relatively supported, close to 100 cents, which means that the market is not materially concerned by these. Indeed, Japan already declined the US demands, while China, who…
If the power spot prices rose by 16.33€/MWh on average in France, Belgium and the Netherlands to 225.64€/MWh amid expectations of stronger power consumption and early gains in gas and carbon prices, the price German price dropped by 40.70€/MWh to 139.90€/MWh as the country’s wind generation is forecasted to surge up to 33GW today. After…
It is almost certain that the Turkish Central Bank will announce a 3rd consecutive and significant rate cut today (-100 to -150bp). Since September, the key rate has plunged below the inflation rate which should soon cross the 20% mark due to the collapse of the currency: -30% since the beginning of the year vs USD and especially…
DOWNLOAD OUR SPECIAL REPORT EUAs broke all-time high : sustainable upward trend or temporary bullish run ? EUA prices have broken their all-time high of 65.77€/t on Nov.15th on a combination of rising gas prices, option trading and some positive sentiment from the COP26 amid a lack of sellers. Despite the current strong bullish trend, the…
The European spot prices started to fall yesterday, driven down by forecast of surging wind output, and should drop further today with a German wind generation expected to reach 28GW tomorrow. The day-ahead prices for today averaged 202.12€/MWh in Germany, France, Belgium and the Netherlands, -31.07€/MWh day-on-day but in line (+2€/MWh) with last week. The…
