The power spot prices edged down yesterday in northwestern Europe as the market anticipated a slower activity ahead of the Ascension Day tomorrow and a weak solar production today, although the forecasts of lower temperatures may have limited the losses. Prices reached 68.74€/MWh on average in France, Germany, Belgium and the Netherlands, -3.43€/MWh day-on-day. Disregarding…
Crude prices remained stable at 68.8 $/b despite increasing concerns of refining throughput reduction, as the colonial pipeline crisis continued to be an issue for US petroleum markets. The API survey, which attempts to anticipate the EIA release, recorded a drop in commercial crude oil stocks of 2.5 mb, while gasoline stocks built by 5.6…
Prospects of below-average temperatures in the coming two weeks, a tight supply picture and soaring coal and EUA prices pushed European gas prices further high on Tuesday. The coal API 2 Cal 2022 contract moved closer to the $80/t mark, mirroring a sharp increase in Chinese coal prices on worries of sustained tightness and strong demand ahead of the summer…
For the second day in a row, equity markets plunged yesterday on concerns about inflation, mainly in the US. The bond market was down as well (yields up), but more in the euro area, as there were big sovereign bond auctions, while expectations of reduction in the ECB’s bond purchases intensified. The FX market posted…
As expected, the European power spot prices rose further up yesterday amid forecasts of falling temperatures and renewable generation. The day-ahead prices in Germany, France, Belgium and the Netherlands all reached 72.17€/MWh, +14.26€/MWh on average from the previous day and just above the clean gas costs. The EUA prices climbed to new record above 52€/t…
