The European power spot prices continued to rise yesterday amid forecast of warming temperatures strengthening the demand for cooling and weak renewable production. Prices climbed by 4.29€/MWh in Germany, France, Belgium and the Netherlands to reach 86.83€/MWh on average. The EUA dropped by 2.8% on Tuesday amid pressure from the falling gas and coal prices…
ICE Brent prompt contract continued to climb, at 74.2 $/b, as the API survey reported significant draws in US crude commercial stocks, while products inventories built at a more moderate pace. Cushing stocks are seen down by 1.5 mb, indicating further tightness for the WTI market, ahead of the summer. Japanese crude commercial stocks also…
European spot gas prices continued their up and down movements yesterday, dropping after the rise of the previous session. On the pipeline supply side, Norwegian flows were almost stable yesterday, at 264 mm cm/day on average, compared to 263 mm cm/day on Monday. The same for Russian flows, which averaged 332 mm cm/day, compared to…
Apart from the continued increase in oil prices, the market is fairly calm. The Fed meeting ends today with its traditional press release and Mr. Powell press conference. The likelihood of a really big surprise is very low, but Fed members’ forecasts should nevertheless point to earlier monetary tightening than previously expected. The USD is…
The power spot prices rose in northwestern Europe yesterday amid power demand strengthened by the hot weather, falling wind production and slightly weaker French nuclear generation. The day-ahead prices hence reached 82.54€/MWh on average in Germany, France, Belgium and the Netherlands, +7.36€/MWh day-on-day. Buoyed by the stronger gas and financial markets, the carbon prices rose…
