The power spot prices were mixed yesterday in northwestern Europe, down in Germany, Belgium and the Netherlands on forecasts of higher renewable production and weaker demand, but slightly up in France. The day-ahead prices averaged 415.78€/MWh in the four countries, -18.64€/MWh day-on-day. Although volatile, the carbon prices overall traded rangebound yesterday with sideways variations attributed…
European gas prices increased strongly yesterday, supported by the additional drop in Russian flows, down to 252 mm cm/day on average, compared to 258 mm cm/day on Monday, as Mallnow flows fell to 0 before switching to reverse mode. Norwegian flows were up, averaging 350 mm cm/day, compared to 342 mm cm/day on Monday. Note…
The Turkish currency has rebounded strongly against the USD since the beginning of the week (+40% from Monday’s low) thanks to a disguised rate increase. The government has undertaken to compensate savers for any loss on their Turkish lira assets that exceeds the gain in interest if they give up exchanging them for foreign currency. The operation…
Crude prices continued to be under pressure during yesterday’s intraday session but remained above 71 $/b at the prompt. Lybian exports were curtailed by the National Oil Corp, estimating that production at Waha and El Sharara was reduced by 300 kb/d as of this weekend, invoking force majeure on parts of its export program at Zawiya and…
European gas prices increased strongly yesterday, mainly supported by lower Russian supply (down to 258 mm cm/day on average, compared to 281 mm cm/day on Friday, due to the drop in Mallnow flows through Poland). Norwegian flows were also down, to 342 mm cm/day on average, compared to 351 mm cm/day on Friday. Moreover, during…
