On Monday, ICE Brent front month price went 0.9% up, closing at $114.13/b. Due to a public holiday in the US, there was no settlement on NYMEX WTI. After the high volatility seen last week, the market is back to an undecided state. Fears related to the economic outlook represents a bearish factor on oil price. But oil…
The European power spot prices for today reached a level close to Friday’s as the retracing gas prices, weaker demand and higher wind output expected in the upcoming hours were offset by forecasts of lower nuclear availability and solar production. The day-ahead prices hence averaged 269.29€/MWh in Germany, France, Belgium and the Netherlands, -2.82€/MWh from…
European gas prices dropped on Friday as the impact of the sharp drop in Nord Stream 1 flows started to fade. Moreover, as we explained in our Gas & Coal Weekly Report published on Friday, European gas prices could still escape a return to their March highs under certain conditions. Russian supply was slightly down on Friday,…
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…
