European gas prices rallied yesterday following the invasion of Ukraine by Russia. At the close, NBP ICE March 2022 prices increased by 108.640 p/th day-on-day (+50.93%), to 321.970 p/th. TTF ICE March 2022 prices were up by €45.42 (+51.10%), closing at €134.316/MWh. Note however that the rise in TTF day-ahead prices was lower (+32.81%, to…
Russian forces appear to be on the verge of taking control of the Ukrainian capital and overthrowing the existing government, in order to install a government that is likely to be totally subservient to Moscow. Uncertainty about Vladimir Putin’s intentions, particularly with regard to other countries in the region, and about the economic consequences of…
The European power spot prices remained mostly stable yesterday, torn between forecasts of increasing wind output and weaker demand and expectations of lower hydro and solar generation. The day-ahead prices averaged 161.79€/MWh in Germany, France, Belgium and the Netherlands, -2.51€/MWh day-on-day. The EUAs soared by 5.9% yesterday as the surging gas prices due to the…
European gas prices continued to increase yesterday, still supported by rising tensions in Ukraine. At the close, NBP ICE March 2022 prices increased by 22.340 p/th day-on-day (+11.70%), to 213.330 p/th. TTF ICE March 2022 prices were up by €9.10 (+11.41%), closing at €88.891/MWh. On the far curve, TTF ICE Cal 2023 prices were up…
The price of a barrel of Brent crude oil has risen sharply to almost $104/b but seems to be levelling off at the time of writing, after Vladimir Putin launched a major offensive against Ukraine (more details in the Daily Eco). In fact, it is all the commodity prices of which Russia or Ukraine are major exporters…
