Spot prices remain unchanged as sunny and still weather is expected on Monday
German and French spot price were not traded on Friday morning. A surge in solar energy supply on Monday, and a lower demand because of higher temperatures was expected to offset an expected fall in wind supply. This would put pressure on prices. LSEG data shows that the German and French baseload power prices for Monday were not traded by 0946 GMT. According to LSEG analyst Naser Hachemi, higher renewable production at the weekend will compensate for a week-on-week increase. Prices are expected to reach zero or near-zero in the middle hours of the day because of high solar production.
Spot prices are affected by lower demand and more solar.
The drop in demand for power and the increase in solar power in Germany pushed spot prices down on Thursday. These changes also overshadowed a predicted drop in wind energy supply on Friday. German baseload electricity for Friday fell 7.5% to 92 euros (104.65 dollars) per megawatt-hour (MWh) at 0826 GMT. The French equivalent contract dropped 1.3%, to 74 Euro/MWh. LSEG data shows that power usage in Germany will drop by 1.8 gigawatts to 54.3 GW. In France, demand is expected to increase by 380 megawatts at 46.4 GW. Engie analysts wrote in an online note that higher temperatures and more stable wind conditions should be expected for the next week…
Venture Global LNG starts commercial operations at Calcasieu Pass plant
Venture Global LNG announced on Tuesday that it has started commercial operations at the Calcasieu Pass facility in Louisiana. This comes more than three year after the company produced its first liquefied gas. The move to commercial operations means the Arlington-headquartered company has brought an end to the extended commission of the plant which resulted in its customers taking legal action to try and force it to provide them with their contracted cargoes. Many LNG plants take months to commission a plant or ensure that its systems work as intended. Calcasieu Pass took three years to commission, or ensure that the plant's systems are working as designed.
Spot prices expected to rise due to falling renewable energy supplies
The strong decline in wind and solar energy supply across the region is expected to exert bullish pressure on spot contract prices on Monday, while three unplanned outages and two planned ones will reduce French nuclear availability. LSEG data shows that the German and French baseload power prices for Monday were not traded by 0923 GMT. Riccardo Paraviero, LSEG analyst, says that the drop in renewable energy supply will increase residual load on Monday. LSEG data indicates that the German wind output is expected to drop by 19.4 gigawatts to 4.2 GW while French production was predicted to halve at 1.9 GW.
Germany and France have different spot prices
German wholesale electricity prices fell on Friday due to a strong wind in Germany, while they rose in France, though only from a level that was just half of the price in the larger market next door. Riccardo Paraviero, LSEG analyst, said that the signal for tomorrow was bearish. He added that consumption in the region had decreased. French baseload was up by 25.9% to 35.3 euros ($38.87), a megawatt-hour (MWh) as of 0745 GMT, while German baseload was not traded with a price of 61.5 euro/MWh. This was compared to the previous close which was 82.9 euros. LSEG data revealed that the German wind power production was expected to double from 12.2 GW to 23.9 GW per day.
Spot prices drop on rising renewable supply
The French spot electricity price for Thursday dropped on Wednesday, as the renewable energy supply was expected to increase and demand to fall in most countries of central Western Europe. French baseload electricity for Thursday fell 10.6% to 81.35 Euros ($89.66 per megawatt-hour (MWh) at 0836 GMT. The French equivalent contract was 36.5% cheaper at 26.25 Euros/MWh. In Germany, residual load is expected decrease on Thursday due to an increase in renewable supply. Riccardo Paraviero, LSEG analyst, said that the trend was the same for the rest, except Belgium. LSEG data indicated that the German wind output is expected to increase by 2.5 gigawatts on Thursday, to 12.1 GW.
The wind generation is increasing, lowering spot prices
The European immediate power prices dropped on Tuesday, primarily due to the bearish impact of forecasts that German wind power production would more than triple in the next day. By 0745 GMT, the German baseload electricity for Wednesday had fallen by 13.7% to 89.5 euros (97.93 dollars) per megawatt-hour (MWH). The same French contract, which closed at 68 Euros, was not traded in the range of 38-43 euro bid-ask. LSEG data indicated that German wind generation is expected to increase by 3.0 GW to 5.2 GW on Wednesday. The French nuclear production capacity increased by one percentage point, to 72%. The summer maintenance season in Switzerland has begun.
Chinese LNG buyers resell US shipments as tariffs bite
As tit-fortat tariffs increase import costs, Chinese buyers are reselling U.S.-sourced LNG cargoes. This trend will accelerate this month as new multiyear supply agreements kick in and domestic demand is expected to weaken, traders and analysts report. Beijing, which had imposed 15% tariffs for U.S. imports of LNG in early February, imposed reciprocal tariffs beginning on April 10 on all U.S. products, matching the move by U.S. president Donald Trump to impose 34% more tariffs on Chinese items. Data from Kpler & LSEG shows that China, which is the largest purchaser of liquefied gas in the world, imported no U.S. LNG during March. According to Chinese customs, the U.S.
Spot prices rise on forecasts of reduced wind supply
The price of European immediate power rose on Wednesday, as the wind power generation in the region is expected to drop sharply. This will lead to a tightening of supply. LSEG analyst Guomarie Wyller forecasts a halving in Germany's wind energy production. She also noted that the higher German solar output will counterbalance this bullish factor. The French baseload power contract for Thursday rose by 54.5% to 47.5 euros ($51.24), while the German day-ahead power contract remained untraded at 66.6 euro, with a price of 79.0 euro. LSEG data indicated that the German wind output is expected to drop to 13.3 gigawatts on Thursday, from 24.2 GW Wednesday.
German contract not traded
French spot prices rose Tuesday for the Wednesday session, and forecasts indicated a mixed output of renewables in Germany. LSEG data shows that the French baseload rate for the day was 93.5 euros ($100.97 per megawatt-hour) at 0958 GMT. This is a 2.8% increase. The data revealed that German day-ahead electricity had not yet begun trading at the time, despite closing on Monday at 108.75 Euros/MWh. LSEG data revealed that on the supply side Germany expected wind output to increase by 2.2 gigawatts to 13.3 GW, while French output was predicted to grow 620 megawatts to 3.2 GW, day-to-day.
Russell: Renewables and gas are gaining ground on coal and oil
The latest review of the International Energy Agency shows that renewables and gas are the most popular energy sources. In its Global Energy Review published on Monday, the IEA described this growth rate as "faster-than-average". Electricity, the fastest growing sector, grew 4.3% by 2024 or almost twice the average annual growth rate of the last decade. In 2024, the IEA reported that renewable power capacity increased by 700 gigawatts. This was a record-breaking annual increase for a 22nd consecutive time. With the increase in nuclear power, 80% of global electricity came from low-emissions sources. The IEA review has two main themes.
Spot prices rise due to lower German solar power
The European spot electricity prices for Wednesday increased on Tuesday, as the German solar power shortage was expected to be greater than gains from wind power and lower demand. German day-ahead electricity gained 1.2% at 0912 GMT to 125.75 Euros per Megawatt Hour. LSEG data shows that the French baseload rate for the day to come was up 10.4%, at 109.60 Euro/MWh. Ricardo Parviero, LSEG analyst, said: "German outlook is bullish once again. He added that a slight drop in demand, coupled with a modest increase in wind energy supplies, does not fully offset the decline in solar power. LSEG data revealed that solar power production in Germany will fall by 3 gigawatts to 5.6 GW.
US drillers reduce oil and gas rigs in the US for the first time in six-weeks - Baker Hughes
Baker Hughes, a leading energy services company, said that the U.S. oil and gas companies have cut back on the number of oil rigs for the first six weeks. The number of oil and gas rigs, a good indicator of future production, dropped by one in the week ending March 7 to 592. Baker Hughes reported that the total number of rigs is 30 or 5% lower than it was at this time last week. Baker Hughes reported that oil rigs remained unchanged at 486 rigs this week while gas rigs dropped by one to 101. Oil and gas rig counts are expected to decline by 5% and 20% respectively in 2024, as the lower U.S.
CME Gold stocks reach record levels after recurrent inflows following price swings
CME daily data revealed that gold stocks in COMEX approved warehouses increased by 218,307 to reach a new record of 39,7 million ounces. This was due to residual inflows even after the major disruption had ended. The Comex gold stock has risen 126% since late November when U.S. president Donald Trump announced that he would impose tariffs on Canada, Mexico and other countries. Trump hasn't mentioned that he is targeting precious metals in his import tariffs. But market players are seeking deliveries to protect their Comex positions from such a scenario. This activity increased the premium between U.S.
German wind power supply increases, lowering spot prices
The European spot electricity prices for Wednesday dropped on Tuesday, as the wind power generation in Germany is expected to increase and demand is expected to fall throughout the region. German power for the day ahead fell by 23.9% at 1001 GMT to 83 Euro per Megawatt Hour. LSEG data shows that the French baseload rate for the day to come was 94 euros/MWh - down 13.8%. LSEG analyst Florine Engl said that residual load in Germany is decreasing due to an increase in wind supply. Forecasts indicate that exports will continue to be made throughout the day.
Shell's LNG enthusiasm for Asia is a conundrum of volume vs. price: Russell
Shell's long-term outlook is contradictory, which shouldn't be surprising. Shell's annual LNG outlook was released last week. It predicted that the demand for LNG would increase by 60% by 2040. This is largely due to the strong economic growth of Asia, artificial intelligence, and the need to reduce emissions in heavy industry and transportation. Shell has said that the global LNG demand is expected to rise from 407 millions tons in 2024 to 630-718 million metric tonnes by 2040. Shell's estimates reveal a large potential gap in supply. The London-listed company believes that LNG production will increase by 170 millions tons by 2030.
Shell's LNG enthusiasm for Asia is hampered by a conundrum of volume and price: Russell
Shell's long-term outlook is contradictory, which shouldn't be surprising. Shell's annual LNG outlook was released last week. It predicted that the demand for LNG would increase by 60% by 2040. This is largely due to the strong economic growth of Asia, artificial intelligence, and the need to reduce emissions in heavy industry and transportation. Shell has said that the global LNG demand is expected to rise from 407 millions tons in 2024 to 630-718 million tons by 2040. Shell's estimates reveal a large potential gap in supply. The London-listed company believes that LNG production will increase by 170 millions tons by 2030.
Congo considers export quotas for cobalt to boost prices amid glut
Three sources with knowledge of the situation said that the Democratic Republic of Congo was considering cobalt export quotas in order to reduce oversupply of the metal and increase prices. The cobalt price is at a historically low level due to a slackening in demand by automakers. Mines are also ramping up their production of copper from which the cobalt can be extracted as a side-product. Sources who declined to name themselves and discuss sensitive issues said that the Congolese Government has discussed the plan of introducing limits, but no final decision had been made. Congo banned all battery metal exports for four months Monday in order to control an oversupply.
Spot prices are mixed as German winds set to fall
On Tuesday, the European spot electricity prices for Wednesday were mixed as it was expected that wind power production would fall in Germany but increase in France. German power for the day ahead increased by 0.9% at 0930 GMT to 137.75 Euros per Megawatt Hour. LSEG data shows that the French baseload rate for the day was 104 euros/MWh down 1.4%. Marcus Eriksson, LSEG analyst, says that residual load in Germany is on the rise due to a weaker renewable energy supply. However, it has decreased in general in the area. LSEG data revealed that on the supply side Germany expected wind output to drop by 2.4 gigawatts to 9.1 GW…
Russell: Asia LNG imports to fall to 22-month low due to Europe's surge in prices
In February, Asia's LNG imports will likely drop to their lowest level in almost two years while Europe's are expected to reach the second highest levels on record. Buyers are turning away from expensive spot cargoes that have prices that are at least 50% higher this year than they were last year. The milder than usual winter in much of North Asia also slowed down demand and allowed European buyers the opportunity to bid on cargoes to replenish the continent's depleted stocks. According to commodity analysts Kpler, Asia is expected to import 20.7 million tons of super-chilled LNG in February. The February total was 22,67 million, down from 24,59 million in January.
