Crude oil prices fell back a little overnight, but after rising sharply before a potential Russian attack on Ukraine. The price of Brent 1st-nearby touched $95/b, before returning to $93/b. At the initiative of France, the Russian and US Presidents agreed in principle to meet at a summit, the details of which have yet to be…
Financial markets continue to move in tandem with news from the Russian-Ukrainian border. At the end of last week, there was widespread pessimism ahead of a Russian attack that the US administration said was “imminent”. The French and German governments called on their citizens to leave Ukraine. The trend reversed overnight after the Russian and US…
Forecasts of stronger demand and slightly weaker renewable and nuclear generation buoyed the European power spot prices yesterday, although the German prices continued to observe a discount due to the country’s still strong wind generation expected to reach up to 41GW at the end of the day. The day-ahead prices averaged 183.05€/MWh in Germany, France,…
European gas prices increased again yesterday, mainly supported by rising tensions on the Ukrainian border. The rise in Asia JKM prices (+13.70% on the spot, to €80.737/MWh; +1.68% for the March 2022 contract, to €75.110/MWh; +3.65% for the April 2022 contract, to €80.588/MWh) helped accompany the bullish momentum as it suggests stronger competition between Europe…
Oil prices remain stuck at their highs, around $96/b for Brent 1st-nearby. The market is fully focused on what is happening on the Russian-Ukrainian border. The Ukrainian President appeared to raise the possibility of Ukraine withdrawing its application to join Nato, while making a dubious joke about the timing of a possible Russian attack. At the…
