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…
As Russian military pressure intensifies on Ukrainian cities, economic sanctions are being stepped up to bend Vladimir Putin. News that the US, Europe and Japan are considering an embargo on Russian oil supplies has sent crude oil prices soaring. But gas, metals, gold and food prices are not immune. The entire trade of major commodity producers (Russia…
The European power spot prices climbed above 400€/MWh for today, lifted by a combination of below-average temperatures, a wind shortage, a weak nuclear availability and surging gas prices. The day-ahead prices averaged 408.67€/MWh in Germany, France, Belgium and the Netherlands, +48.64€/MWh from Friday and a massive 184.47€/MWh from the previous week. Despite an early (slight)…
The European power spot pruces continued to increase yesterday, supported by the wind shortage despite a weaker demand expected today and slightly lower clean gas costs. The day-ahead prices averaged 360.03€/MWh in Germany, France, Belgium and the Netherlands, +20.72€/MWh day-on-day. The carbon prices remained overall stable on Thursday, quickly recovering from the day’s low of…
Torn between opposing fundamentals, European gas prices reached new historical highs yesterday before closing lower. As proof that gas supply is becoming a problem in the country, Ukraine’s energy ministry has banned the export of gas held in Ukraine, including gas into storages (usually held by Western Europe operators that can move it back to…
