The markets are fairly calm and should remain so. In Asia, a certain optimism prevails after the announcement of a new super stimulus plan in Japan, the value of which would reach nearly 10% of GDP. However, this does not impress many people any more. What will be the reality behind these figures? This is the…
European gas prices were mixed yesterday, rising sharply for most of the session before falling back at the close. Strong Asia JKM prices (+13.24%, to €116.064/MWh, on the spot; -1.48%, to €112.397/MWh, for the January 2022 contract) fueled the initial upward movement. On the pipeline supply side, Norwegian flows continued to normalize yesterday, rising to…
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…
