ICE Brent crude price climbed above 76 $/b on early Monday, as European diesel margins recovered partially, to reach 13 $/b at the prompt, despite steady diesel cargoes volumes from Russia (410 kt) and from East of Suez (610 kt) this week, which shows how expensive it is for European refiners to run their hydrocracker…
The European power spot prices for today rose compared to Friday, buoyed by forecasts of weak renewable production despite the warmer temperatures expected today. The day-ahead prices averaged 268.15€/MWh in Germany, France, Belgium and the Netherlands, +27.40€/MWh from Friday with French prices keeping a premium over the neighboring countries at 300.69€/MWh. After trading sideways in…
European gas prices increased strongly on Friday, supported by ongoing concerns on low Russian supply and weak gas stock levels. Asia JKM spot and month-ahead prices were rather stable (+0.30% on the spot, to €105.841/MWh; -0.08% for the January 2022 contract, to €106.232/MWh), but, as in Europe, the rise was stronger for Summer 2022 prices…
All major central banks and even the Bank of Russia or the Bank of Turkey are meeting this week. The Bank of Turkey is expected to distinguish itself again by lowering interest rates, while the currency continues to weaken and inflation to strengthen. The decisions of the ECB and the BoE are uncertain, as the resurgence…
The equity markets rebounded sharply and long rates rose yesterday, mainly on the confirmation of good news about the Omicron variant, which is proving to be very contagious for the time being but much less dangerous than the Delta variant. The negative economic impact on the end of the year and probably the beginning of next year…
