Oil benchmarks climbed on Friday : NYMEX WTI front month posted at 1.4% gain to end the week at $109.77/b and ICE Brent front month ended the week 1.3% higher at $112.39/b. Last week, NYMEX WTI climbed by 5.5% and ICE Brent by 5.7%. On Friday, market was pushed up by the incoming embargo on Russian…
European spot gas prices dropped strongly on Friday, pressured by weak demand and ongoing strong LNG supply while pipeline flows remained stable (Norwegian flows at 320 mm cm/day on average, and Russian flows at 260 mm cm/day on average). The drop in curve prices was more moderate, particularly on the TTF, as concerns on the future of…
The April US jobs report was good with 428k new jobs and a slight slowdown in wages, but this did not stop long rates from continuing to rise (US 10y at 3.13%) and equities from falling, with the US indices recording their 5th consecutive weekly decline, something that has not happened for 11 years. The drop in the…
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…
