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…
The markets, which had welcomed the Fed’s 75bp rate hike, finally revised their judgement significantly afterwards. Concerns about growth took over, leading to a sharp drop in equity markets (-4% for the Nasdaq, -3.25% for the S&P 500, -3% for the Euro Stoxx 50) and a sharp decline in long-term rates as well, but after very sharp…
The EnergyScan team held its quarterly webinar covering key trends and events on energy markets. In this webinar, our experts addressed the following topics, with a Q&A session at the end of each topic: Macro & Oil– Breaking the inflationary spiral without stopping growth: quite a challenge.– What’s next for crude markets after the EU…
