Oil made a strong rebound on Wednesday: ICE Brent front month climbed by +4.9% to $107.51/b while NYMEX WTI front month gained +6.0% to settle at $105.71/b. Oil market was driven by the tensions related to the war in Ukraine. First as a major pipeline flowing gas from Russia to Europe through Ukraine stopped operating and…
The European power spot prices dropped yesterday as the ongoing wind surge offset the weaker clean gas cost and pressured the market. The day-ahead prices averaged 164.69€/MWh in Germany, France, Belgium and the Netherlands, -16.22€/MWh day-on-day with only the French prices remaining above the clean coal cost thanks to the country’s catastrophic nuclear availability. The…
Oil benchmarks continued to drop on Tuesday: ICE Brent front month went -3.3% lower to settle at $102.46/b and NYMEX WTI front month ended the trading session at $99.76/b, -3.2% lower. Concerns on the state of the economy are growing with Chinese’s lockdowns, the comments of the Fed to further increase interest rates and a stronger…
European gas prices rebounded yesterday after one of the two entry points for Russian gas transit through Ukraine stopped operating (see the news we released yesterday afternoon). And actually, Russian flows through Ukraine dropped to 81 mm cm/day on average yesterday, compared to 92 mm cm/day on Monday, driving total Russian flows to 250 mm…
Growth concerns continue to drive the markets: after a strong rebound, the US equity indices almost all ended lower yesterday, but a final surge saw the S&P and Nasdaq rise slightly, but not the Dow Jones. The US 10-year yield fell back below 3% and the USD strengthened a little, confirming risk aversion. The rebound…
