Equity markets continue to yo-yo: as expected, they rebounded in the US, but European markets adjusted on the previous day’s US decline. It seems that the initial pessimism linked to the appearance of the Omicron variant is dissipating somewhat and that the markets are returning to a more neutral position, awaiting the first serious studies…
The European power spot prices mostly rose yesterday amid forecasts of lower temperatures and weaker wind output, except in France where prices edged down as the rising hydro-generation is expected to offset the bullish effect of the above-mentioned fundamentals. The day-ahead prices averaged 228.85€/MWh in Germany, France, Belgium and the Netherlands, +38.68€/MWh day-on-day. The EUAs…
European gas prices increased yesterday, supported by strong demand due to cold weather and lower pipeline supply. Indeed, Norwegian flows were down yesterday, at 339 mm cm/day on average, compared to 346 mm cm/day on Tuesday. The same for Russian supply, which averaged 281 mm cm/day, compared to 286 mm cm/day on Tuesday. However, the…
What is happening in the markets is quite unusual: equity markets surged upwards in Europe yesterday before a sharp fall in US indices and relative stability in Asian markets overall. Pessimism prevailed in the US after the first (seemingly inevitable) case of the Omicron variant infection in California and the Fed Chairman’s hawkish statements before the…
After a strong start, European gas prices weakened by the close yesterday as the 30 mm cm/day of day-ahead transport capacity at Mallnow booked by Gazprom suggests Russian supply is likely to at least remain flat. The spread with Asia JKM prices (+2.43% on the spot, to €112.127/MWh; -1.24% for the January 2022 contract, to…
