The European power spot prices rebounded yesterday, buoyed by forecasts of colder temperatures and dropping (although still strong) wind output. The day-ahead prices averaged 202.65€/MWh in Germany, France, Belgium and the Netherlands, +58.58€/MWh day-on-day with the German baseload price keeping a more than 100€/MWh discount to the other NWE countries due to the ongoing wind…
The European power spot prices continued to fade amid easing clean gas costs, surging wind output, and improving Belgian nuclear availability. The day-ahead prices averaged 144.06€/MWh in northwestern Europe, -33.21€/MWh with prices ranging from 74.15€/MWh in Germany to 219.54€/MWh in France. Meanwhile, the power forward prices posted limited as the energy market continued to digest…
Crude oil prices posted significant losses on Wednesday as the IEA announced an additional 60 Mb release from strategic stocks of its members, on top of the 180 Mb release from US SPR announced last week by the US President Biden. Brent 1st nearby prices dropped to an intraday low at $100.54/b. In the US, the weekly EIA…
The FOMC Meeting Minutes unveiled details over a significant balance sheet reduction set to start as soon as next month with bond sales up to $95bn per month to cool the hottest inflation in four decades. The market impact was relatively limited as the US 10-y treasury yield briefly jumped to 2.66% before retreating towards 2.55%…
European gas prices were mixed again yesterday, torn between more comfortable spot fundamentals and concerns on future supply as European officials consider more sanctions against Russia. In particular, European Council President Charles Michel said that the EU will need to take action on Russian gas imports “sooner or later”. Meanwhile, breaking ranks with EU, Hungary…
