The European power spot prices spiked to record levels near 300€/MWh yesterday, driven up by the morning hefty surge of fuels prices and forecasts of wind shortage and stronger demand for today. The day-ahead prices averaged 301.48€/MWh in Germany, France, Belgium and the Netherlands, +118.94€/MWh day-on-day. The EUAs collapsed by a massive 5.6€/t (-8.7%) on…
After a very volatile session (see our news), European gas prices closed lower yesterday, in line with the sharp drop in coal parity prices. Asia JKM prices on their side closed in a mixed way: +42.35%, to €165.665/MWh, on the spot; -8.76%, to €115.111/MWh, for the December 2021 contract. Norwegian flows were almost stable, averaging…
The strong easing of gas and oil prices has allowed a slight easing of long rates. In addition, the fear of a US default is receding in the short term as both Republicans and Democrats seem ready to raise the debt ceiling until the end of the year. The debates on the Biden plans (infrastructure on the one…
Crude prices rallied yesterday, with front-month ICE Brent futures reaching 83 $/b, as natural gas prices soared in Europe and Asia, putting pressure on diesel and fuel oil winter markets. Yet, US and Japanese inventories increased across the board, with notable builds in US gasoline inventories, according to the API. Japanese crude oil and winter…
European gas prices increased again strongly yesterday, supported by ongoing concerns on supply scarcity, to which has been added the downward revision of temperatures forecasts for the coming days. The rise in Asia JKM prices (+14.37%, to €116.378/MWh, on the spot; +21.98%, to €126.161/MWh, for the December 2021 contract) and in parity prices with coal…
