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…
The release of the US CPI figures showed a further acceleration in the inflation rate in March 2022 at 8.5% yoy, which was the largest year-on-year gain since December 1981. Surging gasoline prices were the main contributor of this sharp increase, but food and services also made strong contributions. A 50 basis points interest rate hike…
European spot and near curve gas prices dropped yesterday, pressured by warmer weather and comfortable LNG and pipeline supply. Russian flows rebounded slightly yesterday, averaging 245 mm cm/day, compared to 241 mm cm/day on Friday. Norwegian flows were stable at 324 mm cm/day on average. By contrast, far curve prices were up again, supported by resilient…
The European power spot prices were mixed yesterday, slightly rising in France despite an improving unclear availability, but falling in Germany, Belgium and the Netherlands amid lower clean gas costs and forecasts of higher renewable production. The day-ahead prices averaged 210.16€/MWh over the four countries, -19.59€/MWh from Friday and -18.62€/MWh week-on-week. The power curve prices…
The European power spot prices averaged 229.75€/MWh for today in Germany, France, Belgium and the Netherlands, +27.10€/MWh from Friday but -36.48€/MWh week-on-week with the largest variation posted by the German prices due to a sharp drop of wind output forecasted for the upcoming hours. The French prices however faded by 19.06/MWh from Friday as today’s…
