European gas prices were mixed yesterday. They dropped on the spot and the two front months, pressured by moderate demand, ongoing strong LNG sendouts and profit taking. By contrast, they increased on the rest of the curve, supported by concerns on Russia-Ukraine tensions and the shape of the Asia JKM price curve: to +2.39% on…
The surging wind production continued to pressure the European power spot prices yesterday, with the German price presenting the largest losses by falling by 114.27€/MWh from the previous day. The day-ahead prices averaged 195.80€/MWh in Germany, France, Belgium and the Netherlands, -44.01€/MWh day-on-day. The EUAs jumped by more than 2€/t in the first hours of…
The Fed statement confirmed market expectations of a very likely rate hike in March and a process of reducing the size of the Fed’s balance sheet to follow. Until then, rates were rising without excess and the equity market was holding its gains. It was when Jerome Powell started his press conference that everything went wrong:…
The European power spot prices retreated yesterday as forecasts of rapidly surging wind output pressured the market. The day-ahead prices averaged 239.81€/MWh in Germany, France, Belgium and the Netherlands, -50.32€/MWh day-on-day. The carbon prices soared by 4% on Tuesday, buoyed by the firmer gas prices and a rebound of equities with additional support from the…
The price of Brent crude oil has risen by $2/b from yesterday morning and is now trading at $88.5/b, despite the further decline in US equity markets. The prompt time spread (m1-m2) is clearly widening and has even risen above $1/b, a sign of great tension in the market in the short term in addition to fears…
