The European power spot prices inched up yesterday, buoyed by higher clean fuel costs and forecasts of weaker French nuclear availability and German wind production. The day-ahead prices hence averaged 230.49€/MWh in Germany, France, Belgium and the Netherlands, +12.32€/MWh day-on-day. The power forward prices received support from the rebounding gas and coal markets and the…
European gas prices were up overall yesterday, mainly supported by the strong rise in coal prices (+8.94% for API2 1st nearby prices; +5.45% for Cal 2023 prices). Reflecting an urgency to secure supplies amid increasing blackouts, India has asked yesterday state and private sector utilities to ensure delivery of 19 million tonnes of coal from overseas…
Oil prices slid on Tuesday, ICE Brent lost 2.4% to end at $104.97/b. NYMEX WTI went 2.6% down to settle at $102.41/b. Market participants continue to monitor the situation in China, where authorities could impose new restrictions to slow Covid-19 spreading but also the economic activity as a collateral damage. Lockdowns are slightly easing in Shanghai,…
Unemployment data released for the Euro Area yesterday showed a continuous improvement of the job market with a new record low at 6.8% in March 2022 (see chart), compared to 6.9% in February 2022. This could provide further upward pressure on wages on the back of another surge in Euro zone producer prices in March 2022 (+5.3% month-on-month for…
The European power spot prices inched down yesterday on lower clean gas costs and forecasts of slightly higher wind production with the rest of the market’s fundamentals mostly steady day-on-day. The day-ahead prices averaged 202.40€/MWh in Germany, France, Belgium and the Netherlands, -9.84€/MWh day-on-day. The power forward prices posted losses along the curve on Tuesday,…
