The European power spot prices continued to decrease and fell below the clean coal costs yesterday as the spiking wind production, easing power demand and slightly higher French nuclear availability offset the lower Belgian nuclear availability expected from today due to Tihange 3 reactor (1GW) going off for maintenance. The day-ahead prices averaged 104.90€/MWh in…
The oil market has been quite volatile since yesterday: the price of Brent 1st-nearby exceeded $96/b before plunging to $91/b and then rising to $94/b this morning. Despite the (supposed) easing of geopolitical tensions, prices rose again yesterday against the backdrop of a short-term imbalance between dynamic demand and rigid supply. The surprise rise in US crude…
The impact of the Fed Minutes on the markets was quite different from the earthquake caused by the publication of the previous ones: long rates eased slightly and the implied probability that the Fed will raise its key rate by 50bp in March fell back below 50%. But the rise in geopolitical risk with incidents on the…
The oil market reacted logically to the announcement of a partial withdrawal of Russian troops massed on the border with Ukraine: prices showed their biggest daily drop since the beginning of the year, with Brent 1st-nearby losing more than $3/b. One might think that there is still some downside potential if indeed the easing is confirmed, but…
The European power spot prices fell yesterday on a combination of lower gas prices, improving French nuclear availability and forecasts of surging wind and hydro production with the wind generation expected to climb above 40GW in Germany. The day-ahead prices averaged 139.82GW in Germany, France, Belgium and the Netherlands, -43.22€/MWh day-on-day. Albeit staying in a…
