Brent 1st-nearby price is rather stable, just below $90/b. The market is not expecting much from the OPEC+ meeting today. A further production increase of 400kb/d is expected to be announced for next month, but OPEC and Russia have not demonstrated their ability to meet this roadmap in recent months and fears of sanctions affecting Russian exports…
Equity markets continue to rally; the S&P 500 has erased half of its losses. US long rates stabilised as Fed members tried to put out the fire sparked by Jerome Powell’s statements last week: none of them are now suggesting that the Fed funds rate hike could be as high as 50bp in March and everyone…
Except in France where prices were driven slightly down by the lower demand expected, the European power spot prices rebounded yesterday amid forecasts of easing wind output. The day-ahead prices averaged 213.72€/MWh in Germany, France, Belgium and the Netherlands, +17.93€/MWh day-on-day. The emissions prices quickly recovered from an early weakness induced by the Fed’s news…
European gas prices were almost stable on the spot and the two front months yesterday as ongoing strong LNG sendouts and profit taking continued to dampen the bullish pressure; the sharp drop in Norwegian flows (to 316 mm cm/day on average yesterday, compared to 341 mm cm/day on Wednesday, due to an unplanned outage at…
The price of Brent 1st-nearby touched $91/b yesterday while the price of WTI exceeded $88.5/b. This is all the more remarkable as at the same time the dollar was soaring after the Fed meeting (see Daily Eco). The inverse relationship between the price of crude oil and the USD is not immutable but it is rare that…
