EUAs rebounded after the Polish auction presented a strong demand
- Power
- February 11, 2021
Brent prompt futures continued to rally to 54.7 $/b on early Thursday as Saudi Arabia guaranteed that their voluntary supply cut would last two months starting in February. The US weekly report reported rising refining runs leading to a large stocks draw of 8 mb. On the product side, US oil product markets weakened. Overall implied demand plummeted by 2.26 mb/d w/w. The recovery in Japanese runs halted, according to PAJ data, to 2.7 mb/d, as Japan wrestle with a hike in coronavirus cases. Finally, Canadian crude production has been ramping-up lately following November’s price rally as oil sands production in the Alberta region resumes.
Share this news :
You might also read :
Crude prices remained elevated, at 82.2 $/b for ICE Brent front-month price, despite the SPR release announcement and a relatively neutral EIA weekly snapshot. Total crude…
July 8, 2021
EUAs and power prices retreated after an early rebound
The European power spot prices were mixed yesterday, up in Germany on forecasts of dropping wind output, slightly down in France and Belgium likely due…
January 24, 2022
Prices up as concerns about low stock levels have returned to the fore
European gas prices increased on Friday as concerns about low stock levels have returned to the fore (on 22 January, European gas storages were 43%…
Subscribe to our newsletter