European gas prices maintained their bullish momentum yesterday as weak supply and low stock levels continued to raise concerns. Although Russian flows continued to rebound, averaging 296 mm cm/day (compared to 287 mm cm/day on Tuesday), thanks to the additional increase in flows through Poland to the Mallnow interconnection point, they are still below the…
The price of Brent crude oil is back near its recent highs, just below $73/bbl. It is supported by the even slower than expected return of production (only 20%) in the Gulf of Mexico after the damage caused by Hurricane Ida. The prompt timespread has risen to 80 cents/b from 60 cents/b a few days ago. According to API estimates,…
Although bond yields eased a little, equity markets continued their downward correction yesterday and the trend continued in Asia. The inflation rate in China eased to +0.8%, but producer prices continued to accelerate, which could make it difficult for the central bank to relax its measures restricting credit distribution. The ECB meeting is the event of the day. The…
The power spot prices hedged down yesterday in northwestern Europe, weighed down by forecasts of slightly lower power demand and higher wind and solar productions. The day-ahead prices reached 124.72€/MWh on average in Germany, France, Belgium and the Netherlands, -2.96€/MWh day-on-day. The carbon prices continued to mirror the gas market on Tuesday. The EUA Dec.21…
European gas prices extended gains yesterday. Russian supply rebounded, averaging 287 mm cm/day (compared to 278 mm cm/day on Monday), thanks mainly to the increase in flows through Poland to the Mallnow interconnection point, but they remained well below the levels of end August (313 mm cm/day). Norwegian flows were stable, at 282 mm cm/day…
