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…
European gas prices have increased their rebound yesterday, as the statements made by Russia’s Deputy Prime Minister Alexander Novak (saying that commercial gas deliveries via Nord Stream 2 may start right after the German regulator grants its permission) did not lift concerns about the level of Russian flows for the coming months. The rise in…
Long-term interest rates fell again, although they are a bit on the rise this morning: the US 10-year is trading at 1.53%. US producer prices recorded their smallest increase of the year for the month, although they continued to accelerate yoy. This does not call into question the expected tightening of US monetary policy in early November as…
A growing gas supply gap : a closer look at Europe and Asia gas balances over the 2000-2020 period The latest survey by the Banque de France sheds some interesting light on the tensions in the industry and the risk of a sustained rise in inflation. It is reasonable to assume that this situation is…
