EUAs gave back early losses on retracing gas prices
The European power spot prices remained impressively flat from the previous day yesterday, with a continuous German wind shortage offset by a strong solar generation,…
Brent futures prices recovered as of early Wednesday, at 68.8 $/b as the API survey showed a surprise draw in crude oil stocks, demonstrating a faster rebalancing of the US crude market. Japanese weekly statistics showed a continued recovery in refining runs. Imports were likely up as commercial crude stocks rose by 1 mb. European and Asian middle distillate cracks continued to edge lower, pushing refining margins at concerning levels.
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