Fed members are making more and more statements in favour of a strong and accelerated tightening of monetary policy. The market is pricing in 87% for a 50bp increase in the Fed funds rate in May. At that time, the Fed could also announce the pace at which it will reduce the size of its balance…
The European power spot remained once again at the same level yesterday as forecasts of stronger solar generation and weaker demand offset the higher gas prices. The day-ahead prices hence averaged 239.65€/MWh in Germany, France, Belgium and the Netherlands, +3.65€/MWh day-on-day. The carbon prices plummeted by 5% yesterday afternoon following the quarterly options’ expiry as…
The price of Brent crude oil rose by almost $7/b yesterday. It even almost touched $124/b overnight before falling back towards $120/b. The market is extremely volatile ahead of the announcement of new sanctions against Russia during the US President’s visit to Europe. Yesterday, the main news agitating the market and causing gas and ruble prices…
European gas prices rebounded slightly yesterday, still torn between improving stock levels and some concerns on future supply. They received support from the strong drop in Norwegian flows, down to 303 mm cm/day on average, compared to 325 mm cm/day on Monday, following an unplanned outage at the giant Troll field. By contrast, Russian flows…
Except in France where prices inched down on expectations of weaker demand, the European power spot prices slightly rose yesterday, buoyed by forecasts of dropping wind output and lower nuclear availability. The day-ahead prices averaged 235.24€/MWh in Germany, France, Belgium and the Netherlands, +13.98€/MWh day-on-day. The carbon prices traded sideways in a narrow range yesterday…
