The price of a barrel of Brent crude oil rose yesterday to almost $106, before falling back below $98 and then finally rising back to around $102. Yesterday’s rise is quite understandable. It accompanied Russia’s armed offensive in Ukraine with strong uncertainties about the consequences of sanctions on Russia’s energy exports. It was precisely when…
The European power spot prices were mixed yesterday, sharply rising in France, Belgium and the Netherlands due to the surging gas prices, but edging down in Germany as forecasts of soaring wind output offset the spiking fuel prices. The day-ahead prices averaged 205.35€/MWh in the four countries, +43.56€/MWh day-on-day. The EUAs plunged by more than…
European gas prices rallied yesterday following the invasion of Ukraine by Russia. At the close, NBP ICE March 2022 prices increased by 108.640 p/th day-on-day (+50.93%), to 321.970 p/th. TTF ICE March 2022 prices were up by €45.42 (+51.10%), closing at €134.316/MWh. Note however that the rise in TTF day-ahead prices was lower (+32.81%, to…
Russian forces appear to be on the verge of taking control of the Ukrainian capital and overthrowing the existing government, in order to install a government that is likely to be totally subservient to Moscow. Uncertainty about Vladimir Putin’s intentions, particularly with regard to other countries in the region, and about the economic consequences of…
The European power spot prices remained mostly stable yesterday, torn between forecasts of increasing wind output and weaker demand and expectations of lower hydro and solar generation. The day-ahead prices averaged 161.79€/MWh in Germany, France, Belgium and the Netherlands, -2.51€/MWh day-on-day. The EUAs soared by 5.9% yesterday as the surging gas prices due to the…
