The European power spot prices eased yesterday amid forecasts of lower demand, improved French nuclear availability and slightly stronger hydro and wind productions. The day-ahead prices averaged 200.40€/MWh in Germany, France, Belgium and the Netherlands, -27.27€/MWh day-on-day. The carbon prices rose throughout Thursday, recouping this week’s losses amid falling energy prices although most participants saw…
Crude oil prices jumped late in the afternoon on Thursday, pushed by reports from the New York Times that the EU is drafting a ban on Russian oil products. The measure should not be assessed into details before the second round of the French presidential election planned on April 24 for which President Macron still…
European gas prices dropped yesterday, pressured by mild weather, ongoing strong LNG supply and rebound in pipeline flows. Indeed, Russian supply rebounded yesterday, averaging 231 mm cm/day, compared to 217 mm cm/day on Wednesday. Norwegian flows also rebounded to 339 mm cm/day on average, compared to 325 mm cm/day on Wednesday. The drop in coal…
No significant development to extract from the ECB meeting held yesterday as its bond buying program is expected to end on the third quarter while the institution did not deliver a precise schedule for an interest rate hike. “Any adjustments to the key ECB interest rates will take place some time after the end of the Governing…
Crude oil prices continue to strengthen with Brent first nearby prices trading as high as $109/b yesterday, buoyed by expectations of an easing monetary policy in China (see macro comment) and latest monthly reports from international agencies pointing to a sharp downturn of Russian crude oil production due to the impact of Western sanctions. Indeed, the IEA estimates that…
