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…
The markets are very volatile after Jerome Powell’s statements. They are now expecting almost five 25bp hikes in the fed funds rate by the end of the year (for seven meetings). Should we be worried about the risk of inflation or should we be happy that the Fed is finally taking the problem head on? Will…
The price of Brent 1st-nearby rose above $90/b yesterday even as US crude oil inventories rose for the second week in a row: +2.4mb. But it is true that the figures were mixed, with the increase concentrated in the Gulf of Mexico region while stocks at Cushing reached a very low level. The increase in gasoline…
