Broad rebound in risky assets
Concerns about the spread of the Delta variant seem to have significantly diminished suddenly: bond yields rebounded, the US 10y nearing 1.3%. Stock markets were…
European spot gas prices were up again overall yesterday, supported by an additional tightness on supply. Indeed, Norwegian flows dropped significantly yesterday to 150 mm cm/day on average, compared to 284 mm cm/day on Tuesday, due to a planned heavy maintenance at Kollsnes and Troll and an unplanned outage at Karsto. As for Russian flows, they were stable, averaging 317 mm cm/day.
Curve prices were more strongly up as the rise in Asia JKM prices and in parity prices with coal for power generation (both EUA and coal prices were up) lent them support
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