Market view – Daily News 24/02/2025
GAS & POWER →
- Resolved over the weekend maintenance work at the sites of Troll and Asgard, this morning Norwegian exports are, however, struggling to reach 330 million cubic metres
- A decidedly mild start to the week for the period will be followed by a sharp drop in temperatures between Thursday and Friday, which will bring conditions much more in line with the averages. Overall, the very first days of March will again be characterised by cool weather and a contained contribution from the continent’s renewable energy park
- According to Reuters, Ukraine plans to import up to 800 million cubic metres of gas from Europe in February and March to cope with the recent drop in domestic production, estimated at around 40%, following the intensification of Russian attacks on the energy infrastructure
- The Excelsior floating storage and regasification unit is expected to arrive in the first months of the second quarter of the year on the northern coasts of Germany to form the Wilhelmshaven regasification terminal. regasification terminal Wilhelmshaven 2. Initially scheduled to start in the first quarter of this year, the plant will be able to handle up to three million tonnes per year
ITALIA →
- Short system: consumption in line with Friday’s levels but down more than ten percentage points from last week’s highs, as in the rest of Europe expected to be decidedly mild in the coming hours
- Surprise award of just under twelve million cubic metres – out of a total of 1 billion offered – in the seasonal auction held on Friday. Tuesday and Thursday are the next dates on the calendar
- Snam has opened the search for a test cargo destined for the regasification terminal in Ravenna, due to start next April. The deadline for for the submission of bids is set for 5 March
EQUITY →
- Wall Street performed poorly on Friday, weighed down by a drop in consumer confidence consumer confidence as well as a deterioration of the PMI in the services sector; Thursday’s expected GDP figure for the last quarter
- German elections left no room for surprises, with the victory of the Christian Democrats led by Merz, the next chancellor, followed closely by the extreme right of Alice Weidel. Possible coalition government by Easter with the SPD, which has dropped a lot in the approval rating
- Exchange rate €/$ at 1.047
OIL →
- The resumption of Iraqi crude oil exports, with the delivery of around 200,000 barrels per day from Kurdistan, weighed on crude oil prices on Friday, down just under 2%
- Negotiations for the second phase of the truce in the Gaza Strip froze after Israel’s decision, supported by the United States, to block the release of some 600 Palestinian prisoners on Saturday
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Opening Brent FM quotations stand at $74.35/bbl
EUAs →
- The emission market managed to find support on Friday at the lows of early January, with the session largely disconnected from the trend in the gas markets
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Opening quotations on DEC25 stood at €73.60/tonn
