Brent 1st-nearby prices traded to their lowest level since late February at $97.44/b in another volatile trading session on Tuesday, mainly pressured by demand-side concerns on the back of mounting lockdown measures due to a Covid-19 resurgence in China. The OPEC underlined “the slowdown of economic growth” with “rising inflation and the ongoing geopolitical turmoil that…
Stagflationary risks continued to cloud the European economic horizon on Tuesday with growing concerns over the impact of a potential ECB monetary policy tightening on the EU GDP growth. The ZEW index, which measures investor expectations for the German economy, plunged from 54.3 in February to minus 39.3 in March, close to the all-time low of…
European gas prices were mixed yesterday as the drop in Russian supply came to remind that the fundamental situation remains fragile. Indeed, Russian flows dropped to 252 mm cm/day on average yesterday, compared to 273 mm cm/day on Monday, mainly because of the halt in Yamal flows through Poland. By contrast, Norwegian flows were up,…
The price of a barrel of Brent crude oil rose yesterday to almost $106, before falling back below $98 and then finally rising back to around $102. Yesterday’s rise is quite understandable. It accompanied Russia’s armed offensive in Ukraine with strong uncertainties about the consequences of sanctions on Russia’s energy exports. It was precisely when…
The European power spot prices were mixed yesterday, sharply rising in France, Belgium and the Netherlands due to the surging gas prices, but edging down in Germany as forecasts of soaring wind output offset the spiking fuel prices. The day-ahead prices averaged 205.35€/MWh in the four countries, +43.56€/MWh day-on-day. The EUAs plunged by more than…
