The European power spot prices rose yesterday amid forecasts of higher demand induced by the current warm spell, and dropping wind output. The day-ahead prices averaged 224.12€/MWh in Germany, France, Belgium and the Netherlands, +16.86€/MWh day-on-day. The power forward prices extended losses along the curve, tracking the bearish gas market as fears of Russian gas…
European gas prices were mixed yesterday, torn between conflicting fundamentals. Russian flows dropped yesterday, averaging 221 mm cm/day, compared to 225 mm cm/day on Friday. Monthly auctions for gas transportation capacity saw no rights allocated for transport through Ukraine for June delivery, while month-ahead auctions on the Yamal pipeline were canceled, On their side, Norwegian…
Oil benchmarks started the week on a gain. ICE Brent climbed +2.4% to $114.24/b while NYMEX WTI front month price increased by 3.4% to settle at $114.20/b. The lockdown in China and the weak economic indicators released yesterday dragged oil, as the economic activity in the country seems more and more gloomy. But the upward pressure…
Three days without a new case of Covid in Shanghai. According to the rules established by the local authorities, this should open the way to a gradual lifting of the restrictive measures imposed for weeks and thus to a resumption of activity. As we suspected yesterday, the markets were not too badly affected by the…
Oil prices climbed on Friday: ICE Brent front month jumped by 3.8% to $111.55/b while NYMEX WTI gained 4.1% to $110.49/b. That is the highest closing price for WTI since March 25, between Monday and Friday NYMEX WTI inched 0.7% higher whereas ICE Brent went down by 0.9%. On refined products market, NYMEX RBOB Gasoline future…
