The European power spot prices sharply rebounded yesterday on expectations of much weaker nuclear availability, although the still very high renewable production dampened the bullish factor. The day-ahead prices averaged 153.43€/MWh in Germany, France, Belgium and the Netherlands, +48.53€/MWh day-on-day. The EUAs fell by 3.8% on Thursday as reports that some member states have began…
European gas prices were mixed yesterday. The apparent easing of tensions on the Ukrainian border exerted downward pressure on curve prices. By contrast, spot prices were supported by lower Russian flows (down to 187 mm cm/day on average yesterday, compared to 212 mm cm/day on Tuesday, probably because weaker spot prices led to a reduction…
The European power spot prices continued to decrease and fell below the clean coal costs yesterday as the spiking wind production, easing power demand and slightly higher French nuclear availability offset the lower Belgian nuclear availability expected from today due to Tihange 3 reactor (1GW) going off for maintenance. The day-ahead prices averaged 104.90€/MWh in…
The oil market has been quite volatile since yesterday: the price of Brent 1st-nearby exceeded $96/b before plunging to $91/b and then rising to $94/b this morning. Despite the (supposed) easing of geopolitical tensions, prices rose again yesterday against the backdrop of a short-term imbalance between dynamic demand and rigid supply. The surprise rise in US crude…
The impact of the Fed Minutes on the markets was quite different from the earthquake caused by the publication of the previous ones: long rates eased slightly and the implied probability that the Fed will raise its key rate by 50bp in March fell back below 50%. But the rise in geopolitical risk with incidents on the…
