Except in Germany where a public holiday and forecasts of higher wind output offset the bullish pressure, the European power spot prices continued to rise yesterday, driven up by the soaring clean fuel costs and demand amid the ongoing heatwave observed across NWE. The day-ahead prices hence averaged 232.77€/MWh in Germany, France, Belgium and the…
The plummeting gas, coal and carbon prices amid comfortable supply and weakening demand pressure the European power spot prices yesterday. The day-ahead prices indeed faded by 17.74€/MWh from the previous day in Germany, France, Belgium and the Netherlands to reach 173.79€/MWh. The falling fuel complex drove the power forward prices down as well while forecasts…
It seems that as soon as Mrs Lagarde speaks, the euro rises. This was the case yesterday and it is happening again this morning after an interview with Bloomberg. The EUR/USD exchange rate rose from 1.0550 to over 1.07. What did she say? That the ECB would probably raise its key rate by 25bp in July…
European spot gas prices increased yesterday, supported by lower pipeline supply. Indeed, Norwegian flows dropped to 305 mm cm/day on average (compared to 325 mm cm/day on Friday), due to an unplanned outage at the Troll gas field. Russian flows were also lower, averaging 208 mm cm/day, compared to 227 mm cm/day on Friday. By…
Oil started the week stable: on ICE, Brent front month price went 0.7% up to $113.42/b. On NYMEX, WTI for July delivery was stable: settling $0.01 higher at $110.29/b. Lingering worries about the state of the economy in the coming months, with a risk of recession that would reduce oil demand, moved prices lower. However, strong gasoline…
