Ahead of meetings of Nato countries and a new EU summit, the US continues to press the EU for further sanctions against Russia, particularly in the energy field. By a disturbing coincidence, the Caspian Pipeline Consortium (whose main shareholder is Russian) has announced that necessary repairs to the pipeline that transports mainly oil from Kazakhstan to the…
Except in Germany where prices inched up on forecasts of weaker wind output, the power spot prices faded in northwestern Europe yesterday amid expectations of slightly lower power demand. The day-ahead contracts averaged 229.73€/MWh, -11.08€/MWh day-on-day. The EUAs finally climbed above their 100-day moving average resistance yesterday in a moderately bullish session attributed to another…
European gas prices rebounded slightly yesterday, supported by the additional drop in pipeline supply. Indeed, Russian flows weakened again yesterday, to 211 mm cm/day on average, compared to 229 mm cm/day on Wednesday. Norwegian flows dropped to 315 mm cm/day on average, compared to 319 mm cm/day on Wednesday. But as these declines are not…
The downturn in prices based mainly on the idea that the conflict in Ukraine could quickly end seemed to be exaggerated. This was confirmed yesterday, as soon as serious doubts reappeared about the validity of this scenario. In addition, statements from Chinese leaders suggested that restrictive measures to stop the pandemic could be eased to…
The equity market rally has continued in the US, but has already started to stall in Europe. The first reason is that the rebound was very strong (over 10% for the Eurostoxx 50, 6% for the S&P 500). The second reason is that optimism about the peace talks in Ukraine has diminished significantly after Russian diplomacy simply…
