European gas prices increased yesterday, supported by a new drop in Russian supply (to 182 mm cm/day on average, compared to 187 mm cm/day on Wednesday) and renewed concerns on Ukraine. The rise in Asia JKM prices (+11.80% on the spot, to €73.202/MWh; +6.34% for the April 2022 contract, to €73.620/MWh) also lent support; these…
Oil prices are almost stable, subject to two opposing forces. The price of Brent 1st-nearby seems to be trending very slightly downwards and is trading around $92.3/b this morning. It is notable that a US official’s warning of an imminent invasion of Ukraine by Russia and conversely a meeting between US and Russian diplomatic chiefs next…
Equity markets fell sharply yesterday, particularly in the US, after a US official warned of an “imminent invasion” of Ukraine by Russia. The flight of investors to safe havens such as US Treasuries and gold resumed: the US 10-year yield fell from 2.03% to 1.96%. The subsequent announcement of a meeting between the US and Russian heads…
The European power spot prices sharply rebounded yesterday on expectations of much weaker nuclear availability, although the still very high renewable production dampened the bullish factor. The day-ahead prices averaged 153.43€/MWh in Germany, France, Belgium and the Netherlands, +48.53€/MWh day-on-day. The EUAs fell by 3.8% on Thursday as reports that some member states have began…
European gas prices were mixed yesterday. The apparent easing of tensions on the Ukrainian border exerted downward pressure on curve prices. By contrast, spot prices were supported by lower Russian flows (down to 187 mm cm/day on average yesterday, compared to 212 mm cm/day on Tuesday, probably because weaker spot prices led to a reduction…
