EUA prices hit a new record high on Wednesday at €94.63/ton intraday for the Dec-22 contract with no fundamental driver at first glance. It should be noted that this spike occurred during the presentation of the report on the CBAM (Carbon Border Adjustment Mechanism) proposal to the EU parliament by the lead lawmaker in the…
A downward adjustment in Russian gas flows at the Velke Kapusany entry point (-15 mm cm/day) triggered a rebound in European gas prices on Wednesday after two sessions of strong losses. Prospects of a normalization of temperatures by the end of next week in Western Europe and strong Henry Hub prices in the US may…
The price of Brent 1st nearby is stable above $89/b. As expected, OPEC confirmed that the OPEC+ production quota would be increased by 400kb/d in March and as expected, the market remained wary of the difficulties experienced by many member states in meeting existing quotas. Moreover, each day brings its own news to maintain the geopolitical risk. Yesterday,…
Eurozone inflation finally reached a new high in January (5.1%), driven by energy and food prices. Inflation accelerated to 5.3% in Italy. In many countries, the increase in energy prices on 1 January had the same effect and a residual effect will remain in February. If the news did not have a strong impact (the market…
A 40 mm cm/day increase in Russian gas flows to Europe through Ukraine and Nordstream 1 pushed European gas prices further down on Tuesday, eroding again the risk premium built last week. Mild and windy weather continued to weigh on gas demand : UK CCGTs consumed only 33 mm cm of gas yesterday, compared to 59…
