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…
The European power spot prices observed limited changes yesterday as hefty wind production kept most prices under the clean coal costs while the French followed once again a different path and slightly increased, buoyed by higher clean gas costs which offset the forecasts of weaker power demand. The day-ahead prices averaged 174.80€/MWh in Germany, France,…
Oil trade sideways on Tuesday: NYMEX WTI front month went +0.4% up to end the trading session at $106.13/b. ICE Brent front month closed stable, losing $0.06/b to $107.45/b. The trading session summarized the recent mixed prices moves. The gloomy economic situation (made of inflation, hawkish policy at the Fed and the ECB, the war in…
