The European power spot prices remained stable yesterday amid forecasts of mostly unchanged renewable production and power demand. Prices reached 77.86€/MWh in Germany, France, Belgium and the Netherlands, -0.69€/MWh day-on-day. The EUAs traded rangebound just above 53.20€/t for most of the day on Thursday, but managed to post slight gains at the end of the…
European spot gas prices increased slightly yesterday, supported mainly by lower-than-expected Norwegian supply. Indeed, the delayed end to maintenance at the Troll field reduced Norwegian gas export availability by 35 mm cm/day, limiting Norwegian flows to 210 mm cm/day on average yesterday (up however compared to the 150 mm cm/day of Wednesday). As for Russian…
ICE Brent price climbed back to 72.5 $/b at the prompt, as US monthly inflation recorded at 5% for May, likely boosted demand for long-dated commodity futures contracts. Saudi Arabia announced that they rose production by close to 0.4 mb/d in May, but the market remained in an upward momentum phase, as all Middle Eastern…
US inflation reached 5% in May, its core component touching its highest level since 1992 at 3.8%. Yet, the market remains convinced this is only temporary. The Fed will meet next week, but the ECB announced it would prolong its extra purchases of bonds, which reinforced the market’s conviction that the Fed would also keep…
The European power spot prices edged up yesterday, supported by the rising fuels and carbon prices, the lingering wind shortage and the solar production expected dampened by the partial eclipse today, although the above-average temperatures continued to weigh on the market and limited the gains. The day-ahead contracts reached 78.56€/MWh on average in Germany, France,…
