As expected, the power spot prices dropped in north western Europe yesterday as the wind output is forecasted to surge today. Prices reached 33.33€/MWh on average in Germany, France, Belgium and the Netherlands, -30.87€/MWh day-on-day. The EUA prices continued to climb towards 50€/t over the first session of the week, lifted by further speculative buying…
The forecasts of surging wind and solar production pressured the power spot prices for today, although the expectations of overall lower temperatures might have limited the losses. The day-ahead prices reached 64.20€/MWh on average in Germany, France, Belgium and the Netherlands, -6.17€/MWh from Friday. The carbon prices rallied to a new record above 49€/t on…
European gas prices increased sharply on Friday. In addition to persistent concerns about Russian flows via Ukraine, there was the effect of the fall in temperatures below normal and the strong drop in Norwegian flows. Indeed, due to a technical outage at the giant Troll field, Norwegian flows collapsed to 260 mm cm/day on Friday,…
ICE Brent prompt prices declined by a dollar, at 66.3 $/b for the July contract, following a weak end-of-month expiry. Gasoil and gasoline cracks continued to improve globally, with the ICE Gasoil crack reaching 5.3 $/b and the Singapore benchmark at 7.5 $/b at the prompt. Mobility in India continued to plunge last week but…
The EUR/USD exchange rate plunged by more than 1$ on Friday and is now trading just above 1.20. The preliminary estimates of Q1 GDP growth confirmed the double-dip recession in the euro area, while US March figures showed a record strong increase in personal income that foresees super strong growth in consumer spending for the…
