Market view – Daily News 25/02/2025
GAS & POWER →
- While the US refrains from condemning the Russian invasion of Ukraine in one of the latest UN resolutions, French President Macron, following the summit with Trump, opens up the possibility for a truce within a few weeks
- New unscheduled maintenance announced overnight restricts flows at Skarv site, possible drop in Norwegian exports over the coming hours – estimated impact of just under six million cubic metres
- Temperatures are expected to fall below average from 27 February to 4 March, and then remain above normal until the beginning of April across north-western Europe. A new downward revision of wind and solar generation forecasts pushes up gas-to-power demand in the electricity sector again
- With a view to strengthening gas supply in the Mediterranean basin, the partners of the Leviathan project, a production field located between Egypt and Israel, are aiming to double capacity from the current 12 bcm/year to 23 bcm/year within the next five years
- On the day marking three years since the Russian invasion of Ukraine, the European Union officially adopted its 16th sanctions package against Moscow: lengthening the list of ships in the Russian shadow fleet and further restricting further restricted the distribution of goods and services for the completion of LNG projects in the Soviet country
ITALIA →
- Short system: consumption little moved in the last twenty-four hours, supplies from storage sustained with a constantly widening storage differential compared to the previous year. This morning the second seasonal uniform modulation auction is scheduled
- SNAM, similarly to what it has done in recent years, has published the residual storage product, with an auction scheduled for 5 March
EQUITY →
- The threat of Trump’s resumption of previously frozen tariffs against Mexico and Canada weighed negatively on the US session, a sentiment also confirmed this morning at the opening of European stock exchanges
- On the geopolitical front, great attention is being paid to the developments that might take place at the negotiating table for the Russian-Ukrainian issue
- Exchange rate €/$ at 1.046
OIL →
- New sanctions approved by the US administration yesterday against Iran, with a view to maximising pressure against the government in Tehran, spur purchases at the opening of the day
- Opening Brent FM quotations stood at $74.35/bbl
EUAs →
- Quotes recovered in the second half of yesterday’s session, led by the performance of the gas markets
- Publication of the Clean Industrial Act is expected this week, with the prospect of a simplification of EU emissions regulations as well as the exemption of most companies from paying the CBAM tax
- Opening quotations on DEC25 stand at €73.30/tonne
