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…
The price of Brent 1st-nearby fell from nearly $120/b to $110/b yesterday. It has risen a little with the events of the night (a missile hit Europe’s largest nuclear power plant in southern Ukraine) which reminds us that the physical risk on the transport of hydrocarbons is always present during armed conflicts. Brent crude oil…
Unsurprisingly, the markets fell back into pessimism yesterday, with stocks recording substantial declines, again particularly in Europe (-2% for the Eurostoxx 50, bringing its decline to 13% since the beginning of the year, compared with -0.5% and -9% respectively for the S&P 500 in the US). The rebound that accompanied the Fed chairman’s speech on…
