The European power spot prices remained steady from the previous day yesterday amid mostly unchanged fundamentals, the day-ahead prices averaging 199.30€/MWh in Germany, France, Belgium and the Netherlands, -3.10€/MWh day-on-day with a strong coupling between the countries. The power curve prices extended gains along the curve and for once especially on the back end, lifted…
Crude oil prices were sideways on Wednesday. Brent first nearby prices decreased by 0.4% to close at $106.70/b while WTI prics did not move to settle at $102.75/b at the end of the session. Volatility was low, WTI prices traded in a tight band of $100.70 – $104.16 as traders did not receive many updates on the…
The markets are hesitant, with no clear direction. The EUR/USD exchange rate has risen sharply to 1.09 after statements by ECB members raising the possibility of a rate hike as early as July and the possibility of positive rates before the end of the year, which would imply 3 rate hikes of 25bp. The markets have adjusted.…
European gas prices increased yesterday, supported by lower Norwegian flows (down to 313 mm cm/day on average, compared to 346 mm cm/day on Tuesday, due to planned maintenance at the giant Troll gas field and the Kollsnes processing plant) and higher coal prices (+1.29% for API2 1st nearby prices, +4.40% for Cal 2023 prices). On their…
Bulls took control of crude oil prices on Tuesday, supported by reports of falling crude production in Russia (to its lowest level since July 2020 below the 10 Mbd mark on Monday according to Reuters) and a cautious easing of lockdown restrictions in Shanghai. Brent 1st nearby traded as high as $105.60/b intraday. In its monthly…
