Brent prices reached a new two-year high level overnight near $72/b, while WTI prices touched $69.4/b. The market remains in a bullish mood after the OPEC+ group left its plans unchanged for the coming months, despite the rise in prices. The market is also adjusting its expectations regarding the comeback of the Iranian oil, as…
European gas prices dropped yesterday, taking a breather after the previous sessions’ strong increases. The drop in Asia JKM prices and in parity prices with coal for power generation (both EUA and coal prices were down) provided additional downward pressure. On the pipeline supply side, Norwegian flows dropped slightly yesterday, averaging 282 mm cm/day, compared…
The market seems on hold, but remains confident overall: limited gains in equities and bond yields slightly down. The USD is rather stable too: the EUR/USD exchange rate was a bit weaker yesterday, but is trading near 1.22 again this morning. The Fed’s Beige Book was not particularly reassuring about inflationary tensions, but did not…
Strong uncertainty around the timing of a potential return of Iranian oil on the market pushed the OPEC+ group to just confirm what had been decided previously: output will increase further in July, but nothing is planned afterwards. Brent 1st-nearby prices almost touched their highest level of the year, above $71/b, before adjusting slightly downwards.…
The power spot prices remained stable in northwestern Europe yesterday amid forecasts of slightly warmer temperatures, stronger wind output and lower French nuclear availability. Prices reached 66.57€/MWh in Germany, France, Belgium and the Netherlands, -1.67€/MWh day-on-day. The EUAs rose by 2.7% and above 53€/t at the market open on Tuesday, lifted by a combined sharp…
