European gas prices ended the session with minor moves on Thursday despite a bullish start on the back of a drop in nominations for Russian gas imports through Ukraine at the Velke Kapusany entry point. Favorable weather continued to exert bearish sentiment on the prompt while seaborne coal prices corrected downwards as the Chinese NDRC…
Oil prices are retreating, but Brent 1st-nearby was still above $93/b yesterday. It is back to $91/b, mainly due to the widespread correction in risky assets after the surge in the US inflation rate and the very hawkish comments of a Fed member (see Daily Eco on this subject). The progress of the Iranian nuclear talks and the likely…
As has been the case for some time, US inflation figures exceeded expectations in January: 7.5% with inflation excluding energy and food at 6% yoy. We haven’t seen such a slippage for 40 years. James Bullard, President of the St Louis Fed, said that the Fed should raise its key rate by 100bp over the next three meetings,…
Except in France where prices edged down on expectations of milder temperatures, the power spot prices posted slight gains in north western Europe yesterday, buoyed by forecast of falling wind production. The day-ahead prices averaged 197.30€/MWh in Germany, France, Belgium and the Netherlands, +11.61€/MWh day-on-day. The EUAs collapsed by 6.33% with a day’s low at…
Globally mild and windy weather prospects for the coming two weeks as well as comfortable LNG supply continued to weigh on European gas prices on Wednesday in the absence of any significant development on the Russia-Ukraine-NATO conflict. TTF ICE March 2022 traded as low as €73/MWh intraday, their lowest level in two weeks. SUM 22…
