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…
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…
