The European power spot prices eased yesterday, pressured by an early weakness of gas prices and forecasts of stronger wind, solar and hydro generation. The day-ahead prices averaged 308.92€/MWh in Germany, France, Belgium and the Netherlands, -23.33€/MWh day-on-day. After a bearish opening, the power forward prices quickly reversed and climbed further up amid fears of…
European spot gas prices increased yesterday, supported by higher demand. The trend was more mixed for curve prices which adopt a wait-and-see position in a context of stable Russian flows (at 104 mm cm/day on average). On their side, Norwegian flows increased very slightly to 322 mm cm/day on average yesterday, compared to 320 mm…
Yesterday oil benchmarks went up: ICE Brent traded 2.5% higher at $117.58/b. While, NYMEX WTI price moved up by 2.0% to $111.76/b. A bullish factor was the final communiqué of the G7 meeting, in which leaders decided to work on a plan to cap the price of oil exported by Russia. The document is quite vague…
The US equity markets fell again yesterday, this time more sharply (-2% for the S&P 500 and -3% for the Nasdaq). The sharp decline in the Conference Board’s consumer confidence index is not unrelated to this: it confirms the signs of a downturn in the US labour market already highlighted by the slow rise in weekly jobless…
Oil prices moved up yesterday : ICE Brent settled at $115.09/b making a 1.7% gain. And NYMEX WTI front month closed at $109.57/b, that is 1.8% higher. Prices jumped on the G7 summit at Elmau, where country leaders are talking about new sanctions against Russia. Russian oil industry is in the crossbow of the group…
