This was to be expected. Some European countries are too dependent on oil from Russia to declare an embargo overnight. This is particularly true of Austria and several Eastern European countries, but also of Germany, which gets 1/3 of its oil from Russia. On this point, Joe Biden’s visit will not have moved the lines, even if…
European gas prices eased slightly yesterday as the bullish momentum fueled by President Putin’s announcement that Russia will seek payment in rubles for gas sold to “unfriendly” countries faded a little. The general sentiment was that, under contractual arrangements, the supplier cannot unilaterally change the payment currency. The increase in pipeline flows also exerted downward…
March PMIs generally came out better than expected, particularly in the US where they were up sharply in both manufacturing and services. This probably helped (in addition to a specific rebound in technology stocks) to support a further rise in US equity markets as well as the decline in weekly jobless claims to their lowest level…
The EnergyScan team held its quarterly webinar covering key trends and events on energy markets. In this webinar, our experts addressed the following topics, with a Q&A session at the end of each topic: • Macro & Oil: A stagflationary shock• Gas & Coal: Towards a new equilibrium without Russian supply?• Power & EUA: The…
European gas prices rebounded strongly yesterday, supported by President Putin’s announcement that Russia will seek payment in roubles for gas sold to “unfriendly” countries (these countries include among others the United States, European Union member states, Britain, Japan, South Korea). On its side, the European Commission published yesterday its final proposal on stock level requirements.…
