European gas prices were once again mixed yesterday. They dropped slightly on the spot and the near curve, pressured by warmer weather and comfortable pipeline supply. Indeed, Russian flows were stable yesterday, averaging 258 mm cm/day. Norwegian flows dropped slightly to 329 mm cm/day on average, compared to 331 mm cm/day on Monday. By contrast,…
The power spot prices faded in north western Europe yesterday, pressured by forecasts of stronger wind and solar output, weaker demand and increasing Belgian nuclear availability. The day-ahead prices averaged 177.28€/MWh in Germany, France, Belgium and the Netherlands, -51.50 from the previous day. On the curve, the power prices observed a bearish morning but reversed…
After a strong start, Brent prices turned slightly negative on Tuesday afternoon and touched an intraday low at $104.53/b, pressured by a stronger USD following Lael Brainard’s statement (see Macro comment) and renewed concerns over the impact on China’s crude oil demand of an extended COVID lockdown in Shanghai (confirmed by a dwindling services PMI…
The widely awaited intervention of Lael Brainard, member of the Fed’s Board of Governors, gave clear indications on the acceleration of the monetary tightening expected in the coming months to bring inflation down in the US (where it reached 7.9% yoy in Feb-22). A series of higher-than-expected interest rate hikes (up to 50 basis points) and…
Except in France where prices were supported by higher gas prices and forecasts of stronger demand, the European power spot prices went down yesterday, pressured by the currently surging wind output. The day-ahead prices averaged 189.93€/MWh in Germany, Belgium and the Netherlands, -51.09€/MWh day-on-day, and reached 317.50€/MWh in France, +23.30€/MWh from the previous day. After…
