Higher clean fuels costs and forecasts of slightly increased power demand raised the power spot prices in northwestern Europe yesterday, except in Germany where the current wind surge observed in the country maintained the prices at the same level. The day-ahead prices hence averaged 144.18€/MWh in France, Belgium and the Netherlands, +51.78€/MWh day-on-day, and 61.50€/MWh…
ICE Brent crude futures continued to be supported, at 85.2 $/b for the Dec21 delivery, as stocks data in the US and the ARA region surprised to the downside. Indeed, US stocks were depleted by a combined 11 mb, mainly due to drops in gasoline and diesel stocks, as the US turnaround season took down 1.5 mb/d…
Equity markets in Europe and the US, with the exception of the Nasdaq, continued to rise modestly yesterday, still supported by corporate earnings. But inflation expectations are increasing and bond yields remain close to their recent highs. The Fed’s Beige Book delivered a state of play of the US economy tinged with risks of stagflation: “modest to…
Crude markets continued to creep higher, with ICE Brent Dec21 contracts trading at 84.8 $/b on early Friday. Despite a poor EIA weekly report, with crude inventory builds of 6 mb, and refinery maintenance work denting throughput by 650 kb/d w/w, crude prices and time spreads continued to rise globally. There are concerns about this week’s…
Diverging from the neighboring countries, the German power spot prices dropped by 51.16€/MWh to 116.65€/MWh yesterday, pressured by forecast of stronger wind and solar output. Conversely, the day-ahead prices in France, Belgium and the Netherlands were supported by the higher fuels and carbon prices combined with expectations of lower French nuclear availability and rose by…
