European gas prices dropped significantly on Friday as concerns on a potential drop in Russian flows faded. Indeed, Russian supply increased again on Friday (to 248 mm cm/day, compared to 226 mm cm/day on Thursday) thanks to the rise in flows through Ukraine and the resumption of flows through Poland. At the close, NBP ICE…
As explained in the Daily Eco, the EU and the US have stepped up the pressure on Russia by significantly tightening their sanctions against banks and, above all, the Central Bank. In theory, energy transactions remain largely unaffected, but in practice, customers are turning away from buying Russian Ural and ships no longer dare approach the Black…
In the financial markets, last week ended in an almost surreal atmosphere with very strong rises in the equity markets, so much so that the flagship index of the US stock market (the S&P 500) recorded a weekly gain. This optimism was based on the idea that the sanctions imposed on Russia would not affect…
The European power spot prices rose yesterday amid forecasts of fading wind output, weakening French and Belgian nuclear production and increasing power demand. The day-ahead contracts averaged 156.09€/MWh in Germany, France, Belgium and the Netherlands, +24.28€/MWh day-on-day with the German prices presenting again a significant discount to the other NWE countries prices due to the…
European gas prices continued to weaken yesterday, pressured by forecasts of milder weather amid ongoing strong LNG supply. The announcement of a possible Putin-Biden summit pushed prices down early in the morning. But the downtrend slightly reversed later in the day after the Kremlin spokesperson said a call or meeting between the two presidents could…
