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…
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…
