European gas prices continued to increase yesterday, still supported by rising tensions in Ukraine. At the close, NBP ICE March 2022 prices increased by 22.340 p/th day-on-day (+11.70%), to 213.330 p/th. TTF ICE March 2022 prices were up by €9.10 (+11.41%), closing at €88.891/MWh. On the far curve, TTF ICE Cal 2023 prices were up…
The price of a barrel of Brent crude oil has risen sharply to almost $104/b but seems to be levelling off at the time of writing, after Vladimir Putin launched a major offensive against Ukraine (more details in the Daily Eco). In fact, it is all the commodity prices of which Russia or Ukraine are major exporters…
Early this morning, the Russian President announced the launch of a military operation to assist the separatist republics of the Donbas and overthrow the Ukrainian regime. The offensive was launched from Russia, but also from Belarus and Crimea, and is currently targeting military objectives throughout Ukraine. The US and Europe will respond with new sanctions, but Europe’s…
The European power spot prices continued to slowly rise yesterday amid forecasts of slightly easing (but still strong) wind output and weak nuclear availability, although the decent solar and hydro generation expected today offset part of these supports. The day-ahead prices averaged 164.30€/MWh, +8.20€/MWh day-on-day with the German prices still hovering just below the clean…
European gas prices rebounded strongly yesterday, inflated by the rise in the risk premium on the Ukrainian crisis. Indeed, after President Putin recognized eastern Ukraine’s Donetsk and Luhansk regions as breakaway states, Europe and the USA have decided to apply a series of sanctions against Russia. In particular, German Chancellor Scholz said that the Nord…
