European gas prices weakened yesterday, maybe “reassured” by the fact that Europe has decided (at least for the time being) not to follow the United States in banning the import of Russian energy. Yesterday, Russian gas supply continued to flow, averaging 267 mm cm/day (of which 169 mm cm/day on Nord Stream 1), compared to…
A new milestone has been reached with the decision of the US and the UK to attack Russia’s revenues from hydrocarbon exports. Of course, they can do so because their imports from Russia are still relatively limited (8% of the total for the US, crude and products), which is not the case for EU countries.…
The Biden administration has announced a ban on fossil fuel imports from Russia: oil, gas, coal. The British government has taken the same decision concerning oil only. The EU cannot for the moment follow suit. For Russia, these sanctions concern about 10% of oil exports, but the EU’s share is 60%. However, it is clear…
European gas prices rose to new all-time highs on Friday. Although Russian supply continues to flow (even increasing to 267 mm cm/day on average on Friday, compared to 260 mm cm/day on Thursday), market participants continued to fear disruptions in the near future. Moreover, the announcement that the European Commission will propose this week gas…
The never-ending bullish run of the European power spot prices continued yesterday as the gas market pursued is sharp ascend amid soaring supply concerns while a wind shortage combined with low nuclear availability and stronger demand pushed the prices further up. The day-ahead prices averaged 483.38€/MWh in Germany, France, Belgium and the Netherlands, +74.71€/MWh day-on-day…
