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…
According to the API industry survey, US crude stocks built by 5.2 mb w/w, while Cushing stocks dropped by 2.2 mb, lending support to the greater availability of crude in PADD3 and the Atlantic basin. Indeed, crude stocks are expected to build slightly in the US for the month of October, in line with the…
The power spot prices were mixed in northwestern Europe yesterday, driven down in Germany and the Netherlands by forecasts of stronger wind output but slightly up in France and Belgium amid expectations of increased peak power demand. The day-ahead prices hence averaged 189.09€/MWh in the four countries, -3.58€/MWh day-on-day. The EUAs traded rangebound on Wednesday,…
European gas prices continued to rebound yesterday, supported by uncertainty on the level of Russian flows for the coming months after President Putin said Russia is prepared to increase gas supplies to Europe if it receives requests for more gas from its customers (via long term contracts?). The rise in Asia JKM prices (+3.97%, to…
The rise in the US inflation rate to 5.4% and the maintenance of core inflation at 4% in September reinforce the feeling that this transitory phenomenon linked to the Covid crisis… is bound to last. This is also what Fed members fear from the minutes of their last meeting. They confirmed that the announcement of a reduction in securities purchases would probably…
