Market view – Daily News 21/02/2025
GAS & POWER →
- The minor setbacks that have pushed Norwegian production away from last year’s highs continue: new operations at the Troll and Asgard sites have been published in the last twenty-four hours
- Temperatures already above average in Northern Europe, expected to rise over the weekend across the Mediterranean region. Overall, compared to previous forecasts, the second part of next week appears to be cooler and less dynamic, however significant cold episodes like the one experienced in recent days seem unlikely until the end of the first ten days of March
- While the European Union launches its sixteenth sanctions package against Russia, a Commission delegation is expected to arrive in Kiev on Monday to offer support on possible truce talks. Partial recomposition of the rift between Zelensky and Trump, with a new opening of the former to the rare earths agreement
- Yet another Russian raid on Ukraine’s energy infrastructure overnight, targeting some of the country’s gas production sites
ITALIA →
- Balanced system: consumption reduced as temperatures rise, a situation that is expected to last through much of next week, imports along northern routes fall as a result
- As the multi-year auction round comes to a close – with no overall capacity allocated and gradually decreasing interest from operators – the seasonal rounds of uniform modulation auctions begin today, with two slots per week until next 18 March
EQUITY →
- Traders’ attention turns on the one hand to the progress of the negotiating table between Russia, the United States and Ukraine, and on the other hand, on the European front, to the outcome of the German elections scheduled for the weekend
- Exchange rate €/$ at 1.047
OIL →
- The effect of the growth in US crude oil stocks confirmed by government data, +4.6 million barrels the figure recorded, was offset by a larger than expected drop in fuel and distillate reserves
- President Trump confirmed his willingness to replenish as quickly as possible the country’s strategic reserves, consumed over the past two years to meet the increases experienced during the energy crisis
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Brent FM prices opened at 76.05 $/bbl
EUAs →
- The selling did not stop in the last session, with prices falling over the last four trading days, while investment funds only partially reduced their net long positions in the week ending Friday 14 February
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DEC25 prices opened at 73.30 €/tonn
