Oil slumped on Friday: ICE Brent front month dove by 5.6%, to settle at $113.12/b and NYMEX WTI plunged by 6.8% to reach its lowest closing price since May 12, at $109.56/b. The sell-off was not driven by a new event, but is rather the result of the degradation of the economic outlook caused by the…
Recession concerns amid surging inflation rates and a sharp acceleration of monetary tightening across the globe continued to weigh on financial markets at the end of last week. Overall, US stocks have suffered their heaviest weekly fall since the outbreak of the coronavirus pandemic last week. Nothing special in the agenda today. US markets are…
Yesterday was a choppy session for oil, at the end prices went up: ICE Brent front month moved +1.1% higher to $119.81/b and WTI NYMEX for July delivery traded +2.0% higher at $117.58/b. During the session, the lowest trading level for Brent was $115.56/b (-3.3%), it reflects the concerns following the impacts of the US…
The European power spot prices pursued their ascend yesterday, driven further up by the soaring gas prices despite forecasts of slightly weaker power demand. The day-ahead prices averaged 272.10€/MWh in Germany, France, Belgium and the Netherlands, +39.33€/MWh day-on-day. The EUAs plunged by 3.7% on Thursday as the surging gas markets forced traders to sell allowances…
European gas prices were mixed yesterday, torn between ongoing concerns on supply and profit taking. Yesterday, reflecting the problems on the compressors mentioned the previous days, Russian supply weakened again, averaging 106 mm cm/day (compared to 136 mm cm/day on Wednesday), with Nord Stream 1 flows down to 70 mm cm/day, compared to 166 mm…
