Early this morning, the Russian President announced the launch of a military operation to assist the separatist republics of the Donbas and overthrow the Ukrainian regime. The offensive was launched from Russia, but also from Belarus and Crimea, and is currently targeting military objectives throughout Ukraine. The US and Europe will respond with new sanctions, but Europe’s…
The European power spot prices continued to slowly rise yesterday amid forecasts of slightly easing (but still strong) wind output and weak nuclear availability, although the decent solar and hydro generation expected today offset part of these supports. The day-ahead prices averaged 164.30€/MWh, +8.20€/MWh day-on-day with the German prices still hovering just below the clean…
European gas prices rebounded strongly yesterday, inflated by the rise in the risk premium on the Ukrainian crisis. Indeed, after President Putin recognized eastern Ukraine’s Donetsk and Luhansk regions as breakaway states, Europe and the USA have decided to apply a series of sanctions against Russia. In particular, German Chancellor Scholz said that the Nord…
Brent crude oil hit $99.5 a barrel yesterday before settling back down to $97/b. As we explain in the Daily Eco, the sanctions imposed by the US and Europe on Russia remain measured for the time being and, above all, there seems to be no intention of restricting Russian oil exports in an already hyper-tensioned market. However, the…
The US, EU, UK and some of their allies have announced retaliatory measures against Russian interests after Vladimir Putin recognised the independence of the two breakaway republics of Donetsk and Luhansk. By all accounts, these measures, apart from the suspension of the Nord Stream 2 approval process, remain moderate for the moment, affecting personalities close to the…
