Mixed news from China: Covid cases in Beijing are back to a record high… at 99. The number seems ridiculously low, but the trend is worrying, especially in the context of the “zero cases” policy. But on the other hand, the President seemed to open the door to at least a partial lifting of the…
The European power spot prices fell below 200€/MWh for today as gas dropping gas and carbon prices combined with forecasts of soaring wind production pressured the market. The day-ahead prices averaged 191.52€/MWh in Germany, France, Belgium and the Netherlands, -17.04€/MWh from Friday and -15.73€/MWh week-on-week. The power curve prices ended up mixed for the last…
European gas prices weakened again on Friday, pressured by weak demand and comfortable supply. While Russian flows were stable, averaging 227 mm cm/day, Norwegian flows were up, to 325 mm cm/day on average, compared to 320 mm cm/day on Thursday. However, the rise in coal prices (+4.61% for API2 1st nearby prices, +4.01% for Cal 2023…
The European power spot prices inched down yesterday amid weaker clean gas costs and forecasts of lower demand. The day-ahead prices hence averaged 208.56€/MWh in Germany, France, Belgium and the Netherlands, -2.66€/MWh day-on-day. The power forward prices posted moderate losses along the curve, weighed by the fading gas markets and plummeting carbon prices. The EUAs…
Oil prices climbed on Thursday, in a volatile trading session. On ICE, Brent for July delivery settled 2.7% higher to $112.04/b, the contract traded between $105.70/b and $112.31/b. On NYMEX, WTI front month made a 2.4% gain to stand at $112.21/b. At start, oil market was dragged lower as stocks continued to drop, on worsening growth…
